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NYMEX HO: (Z18) Downtrend Intact *RES.....>

OIL TECHS
OIL TECHS: NYMEX HO: (Z18) Downtrend Intact
*RES 4: $2.5500 - Channel top 
*RES 3: $2.4534 - High Oct 3 
*RES 2: $2.3627 - Low Oct 8, now resistance 
*RES 1: $2.2808 - 55-dma 
*PRICE: $2.1917 @ 05:53 GMT 
*SUP 1: $2.1380 - 200-dma 
*SUP 2: $2.0871 - Low Aug 15 
*SUP 3: $2.0719 - Low Jul 18 
*SUP 4: $1.9561 - Low Jul Apr 6 
Heating oil futures continue to edge towards the 200-dma at $2.1380, with few
signs yet of any end to the downtrend. A break below the 200-dma would open the
Aug 15 low at $2.0871, below which bearish momentum would strengthen. Bulls need
to recover the 55-dma, currently at $2.2792, in order to re-establish the
uptrend and open the Oct 3 highs.

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