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NYMEX HO (Z19): Heavy *RES 4: $1.9833 -...>

OIL TECHS
OIL TECHS: NYMEX HO (Z19): Heavy
*RES 4: $1.9833 - 61.8% retracement of Sep 17 - Oct 3 low
*RES 3: $1.9799 - High Oct 24 and key near-term resistance
*RES 2: $1.9611 - High Oct 29
*RES 1: $1.9165 - High Oct 31
*PRICE: $1.8798 @ 07:34 BST Nov 1
*SUP 1: $1.8594/88 - Low Oct 31/ Low Oct 8
*SUP 2: $1.8151 - Low Oct 3 and primary support
*SUP 3: $1.7825 - Low Sep 3
*SUP 4: 1.7580 - Low Aug 7
Sharp losses dominated yesterday's HO trading session extending the slide that
has unfolded this week. The recent failure ahead of the 61.8% retracement of Sep
17 - Oct 3 decline at $1.9833 continues to weigh and attention turns to 1.8151,
Oct 3 low particularly if the next support at $1.8588 gives way. Momentum
studies are pointing south reinforcing the current bearish theme. Initial
resistance is at 1.9165, yesterday's high.

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