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NYMEX HO: (Z18) Failure To Reclaim........>

OIL TECHS
OIL TECHS: NYMEX HO: (Z18) Failure To Reclaim 200-DMA Keeps Outlook Bearish
*RES 4: $2.4534 - High Oct 3 
*RES 3: $2.3627 - Low Oct 8, now resistance 
*RES 2: $2.2707 - 55-dma 
*RES 1: $2.1436 - 200-dma 
*PRICE: $2.0930 @ 05:42 GMT 
*SUP 1: $2.0430 - Low Jul 18 (continuation chart) 
*SUP 2: $1.9484 - Low Apr 6 (continuation chart) 
*SUP 3: $1.8600 - Up trendline support from 2016 lows (continuation chart) 
*SUP 4: $1.8094 - Low Feb 14 (continuation chart) 
Heating oil futures temporarily recovered their 200-dma yesterday before a weak
close returned the focus to the downside. The next level of support comes in at
the July 18 low on the continuation chart at $2.0430, below which up trendline
support from the 216 lows comes into play. Bulls need to reclaim the 200-dma at
$2.1436 to return the outlook neutral, and overcome the 55-dma at $2.2707 to
regain the upper hand.
Energy BulletsCommodities
Energy BulletsCommodities

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