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NYMEX HO: (F18) Bears Need Close Below....>

OIL TECHS
OIL TECHS: NYMEX HO: (F18) Bears Need Close Below Channel Base
*RES 4: $1.9742 - Bollinger band top
*RES 3: $1.9652 - 2017 High Nov 28
*RES 2: $1.9508 - High Nov 30
*RES 1: $1.9257 - 21-DMA
*PRICE: $1.9113 @ 0430GMT
*SUP 1: $1.8908 - Low Nov 30
*SUP 2: $1.8870 - Low Nov 14
*SUP 3: $1.8772 - Bollinger band base
*SUP 4: $1.8719 - Daily Bull channel base (Off June 26 low)
*COMMENTARY: Bears take comfort in the close below the 21-DMA that sees
immediate focus back on the $1.8719-1.8870 support region where the bull channel
base is located. A close below the channel base is needed to shift immediate
focus to $1.8400-71 where the 55-DMA is noted. Bulls now need a close above the
21-DMA to ease pressure on key supports and above $1.9652 to confirm focus on
the bull channel top ($2.0383).

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