NYMEX HO: (Z18) Bearish Trend Extends.....>

OIL TECHS: NYMEX HO: (Z18) Bearish Trend Extends

*RES 4: $2.4534 - High Oct 3 

*RES 3: $2.3627 - Low Oct 8, now resistance 

*RES 2: $2.2519 - 55-dma 

*RES 1: $2.1427 - 200-dma 

*PRICE: $2.0078 @ 06:10 GMT 

*SUP 1: $1.9484 - Low Apr 6 (continuation chart) 

*SUP 2: $1.8600 - Up trendline support from 2016 lows (continuation chart) 

*SUP 3: $1.8385 - Low March 12 

*SUP 4: $1.8094 - Low Feb 14 (continuation chart) 

Heating oil futures continue to move lower as the April 6 low acts as the next

level of support. A break below here would bring into play up trendline support

from the 2016 lows, below which adds weight to the bearish case. Bulls need to

reclaim the 200-dma at $2.1427 to return the outlook neutral, and overcome the

55-dma at $2.2519 to regain the upper hand.