NYMEX HO (Z19): Recovery Still Favoured...>

OIL TECHS: NYMEX HO (Z19): Recovery Still Favoured

*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: $1.9689 - High Nov 6

*RES 1: $1.9345 - High Nov 11

*PRICE: $1.9206 @ 06:56 GMT Nov 14

*SUP 1: $1.8680 - Low Nov 13

*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 a focus return however, thus far

there has admittedly been no follow through. Attention remains 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 instead highlight a

bearish threat and open $1.8151, Oct 3 low.