NYMEX HO (Z19): Correcting *RES 4:........>

OIL TECHS: NYMEX HO (Z19): Correcting

*RES 4: $2.0138 - High Sep 19

*RES 3: $1.9833 - 61.8% retracement of Sep 17 - Oct 3 low

*RES 2: $1.9799 - High Oct 24 and key near-term resistance

*RES 1: $1.9689 - High Nov 6

*PRICE: $1.9099 @ 08:12 GMT Nov 8

*SUP 1: $1.8729 - Low Nov 1

*SUP 2: $1.8594/88 - Low Oct 31/ Low Oct 8

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

*SUP 4: $1.7825 - Low Sep 3

A strong rebound on Nov 1 in HO saw a bullish focus return with attention on key

resistance at $1.9799, Oct 24 high. If cleared, this would open $1.9833, 61.8%

of Sep 17 - Oct 3 decline and $2.0138, Sep 19 high. Key support has been defined

at $1.8594, Oct 31 low. A failure to hold above this support would highlight a

bearish threat and instead open $1.8151, Oct 3 low. For now the focus is on

gains, and the current pullback is viewed as a correction.