NYMEX HO (Z19): Rebound Likely To.........>

OIL TECHS: NYMEX HO (Z19): Rebound Likely To Extend

*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: $1.9644 - High Nov 4

*PRICE: $1.9461 @ 08:02 GMT Nov 5

*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

A strong rebound Friday in HO sees a bullish focus return with attention on this

week's 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 onto current levels

and a breach of the support would highlight a bearish threat and instead open

key support at $1.8151, Oct 3 low. For now the focus is on gains.