NYMEX HO (Z19): Attention Turns To........>

OIL TECHS: NYMEX HO (Z19): Attention Turns To Resistance

*RES 4: $1.9799 - High Oct 24 and key near-term resistance

*RES 3: $1.9689 - High Nov 6

*RES 2: $1.9612 - High Nov 15

*RES 1: $1.9468 - High Nov 21

*PRICE: $1.9345 @ 07:16 GMT Nov 22

*SUP 1: $1.8830 - Low Nov 21

*SUP 2: $1.8468 - Low Nov 20

*SUP 3: $1.8151 - Low Oct 3 and primary support

*SUP 4: $1.7825 - Low Sep 3

HO rebounded sharply Wednesday and Thursday, taking prices back into the broad

range that has dominated since early October. Attention turns to the key

resistance parameter at $1.9799, Oct 24 high and $1.9833, 61.8|% retracement of

the Sep 17 - Oct 3 decline. A breach of this zone would highlight an important

breakout and establish an uptrend. This would pave the way for a move towards

the $2.0230, 76.4% retracement. Key support is $1.8468, Nov 20 low.