NYMEX HO: (Z18) Further Losses Look.......>

OIL TECHS: NYMEX HO: (Z18) Further Losses Look Likely

*RES 4: $2.4534 - High Oct 3 

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

*RES 2: $2.2637 - 55-dma 

*RES 1: $2.1456 - 200-dma 

*PRICE: $2.0800 @ 05:54 GMT 

*SUP 1: $2.0503 - Low Nov 14

*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 continue to look bearish as the 200-dma acts as tough

overhead resistance keeping the focus on the downside. A break below $2.0503

would open the April 6 lows ahead of up trendline support from the 216 lows

which comes in at $1.8600. Bulls need to reclaim the 200-dma at $2.1456 to

return the outlook neutral, and overcome the 55-dma at $2.2637 to regain the

upper hand.