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

OIL TECHS
OIL TECHS: NYMEX HO: (F18) Bears Need Close Below $1.8994
*RES 4: $1.9713 - Bollinger band top
*RES 3: $1.9644 - Alternating support/resistance
*RES 2: $1.9509 - Hourly support Dec 12 now resistance
*RES 1: $1.9187 - Low Dec 11 now resistance
*PRICE: $1.9115 @ 0430GMT
*SUP 1: $1.8994 - High Dec 7 now support
*SUP 2: $1.8768 - Daily Bull channel base
*SUP 3: $1.8668 - 55-DMA
*SUP 4: $1.8400 - Monthly Low Nov 2
*COMMENTARY: Fresh 2017 & 2+ year highs lacked follow through and have left the
contract looking a little heavy. Bears now need a close below $1.8994 to
pressure the bull channel base and 55-DMA. Overall below $1.8400 is needed to
confirm breaks of these supports, ending bullish hopes and initially focusing on
the 100-DMA ($1.7858). Bulls need a close above $1.9644 to reconfirm focus on
the bull channel top ($2.0385).

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