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Resistance Remains Intact


Trend Needle Points North


Bearish Outlook


WTI Sees Lowest Close Since January


Key Support Remains Exposed

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DOLLAR-PHP TECHS: Bulls Need Close Above Php52.170
*RES 4: Php52.350 - Bollinger band top 
*RES 3: Php52.170 - Low Apr 25 now resistance 
*RES 2: Php52.025 - 55-DMA 
*RES 1: Php51.962 - 21-DMA
*PRICE: Php51.927 @ 2300GMT
*SUP 1: Php51.569 - Monthly Low Apr 30 
*SUP 2: Php51.458 - 100-DMA 
*SUP 3: Php51.400 - Low Feb 9 
*SUP 4: Php51.217 - 200-DMA
*COMMENTARY: Bears take comfort in the 21 & 55-DMAs now capping with bears
currently focused on the broad Php51.030-569 support region where 100 & 200-DMAs
are located. Bears need a close below Php51.030 to shift focus to tests of 2018
lows. Bulls now need a close above the 55-DMA to gain breathing room and above
Php52.170 to end bearish hopes and return initial focus to 2018 highs.

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