NYMEX HO (Z19): Looking For A Range.......>

OIL TECHS: NYMEX HO (Z19): Looking For A Range Breakout

*RES 4: $2.0872 - High Sep 17

*RES 3: $2.0230 - 76.4% retracement of Sep 17 - Oct 3 decline

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

*RES 1: $1.9735 - High Nov 27

*PRICE: $1.9431 @ 07:12 GMT Nov 28

*SUP 1: $1.8830 - Low Nov 21

*SUP 2: $1.8468 - Low Nov 20 and a key support

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

*SUP 4: $1.7825 - Low Sep 3

HO maintains a bullish stance following the strong rebound last week Wednesday

and Thursday. Attention remains on key resistance 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 with initial support at $1.8830.