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NYMEX HO (F20): Firmer Within The Range...>

OIL TECHS
OIL TECHS: NYMEX HO (F20): Firmer Within The Range
*RES 4: $2.0020 - High Nov 19
*RES 3: $1.9735 - 61.8% retracement of Sep 16 - Oct 3 decline
*RES 2: $1.9716 - High Nov 27 and bull trigger
*RES 1: $1.9472 - High Dec 5
*PRICE: $1.9322 @ 07:27 GMT Dec 6
*SUP 1: $1.8693 - Low Dec 3
*SUP 2: $1.8441 - Low Nov 20 and a key support
*SUP 3: $1.8042 - Low Oct 3 and primary support
*SUP 4: $1.7823 - Low Sep 3
HO was firmer yesterday. The sharp pullback on Nov 29 saw prices slip back into
the broad range that has been in place for just over a month. For a bullish
focus to return, prices need to continue as they have this week reclaiming
territory lost on Nov 29 and move towards $1.9600. The key resistance is at
$1.9716, Nov 27 high, a break would confirm a bullish range breakout. Weakness
below Tuesday's low of $1.8693 would instead expose $1.8441.

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