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OIL TECHS
OIL TECHS: NYMEX HO (Z19): Pivot Support At $1.9209
*RES 4: $2.0299 - 76.4% retracement of Sep 17 - Oct 3 low
*RES 3: $2.0138 - High Sep 19
*RES 2: $1.9833 - 61.8% retracement of Sep 17 - Oct 3 lowHigh Sep 19
*RES 1: $1.9799 - High Oct 24 and key near-term resistance
*PRICE: $1.9439 @ 07:37 BST Oct 30
*SUP 1: $1.9209 - Low Oct 29 and pivotal intraday support
*SUP 2: $1.8959 - Low Oct 21
*SUP 3: $1.8804 - Low Oct 15
*SUP 4: $1.8588 - Low Oct 8
HO gains stalled last week at $1.9799, Oct 24 high. This was also just ahead of
the 61.8% retracement of Sep 17 - Oct 3 decline at $1.9833 and does reinforce
the potential significance of the recent move lower. The support to watch is
$1.9209, yesterday's low that if breached would further undermine the recent
recovery and expose $1.8804, Oct 15 low. For now however, a bullish focus is
being maintained. The trigger for a resumption of strength is $1.9799.

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