NYMEX HO: (Z18) Uptrend Support Coming....>

OIL TECHS: NYMEX HO: (Z18) Uptrend Support Coming Into Play

*RES 4: $2.4534 - High Oct 3 

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

*RES 2: $2.2731 - 55-dma 

*RES 1: $2.1425 - 200-dma 

*PRICE: $2.0606 @ 05:58 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 smashed through their 200-dma yesterday to give further

credence to the large topping pattern. 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

$2.1425 to return the outlook neutral, and overcome the 55-dma at $2.2731 to

regain the upper hand.