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NYMEX HO (G19) Jan 11 High The Upside.....>

OIL TECHS: NYMEX HO (G19) Jan 11 High The Upside Target
*RES 4: $2.1229 - 200-dma 
*RES 3: $2.1000 - Prior range lows, now resistance 
*RES 2: $1.9443 - High Dec 7 
*RES 1: $1.9226 - High Jan 11
*PRICE: $1.8700 @ 05:55 GMT Jan 16 
*SUP 1: $1.7747 - 21-dma 
*SUP 2: $1.6380 - Low Dec 26 
*SUP 3: $1.5489 - Low Aug 17, 2017 (continuation chart) 
*SUP 4: $1.3563 - Low June 21, 2017 (continuation chart) 
The correction in Heating Oil futures has been shallow keeping the focus on the
Jan 11 high at $1.9226. A break above here would trigger an potential inverse
head and shoulders pattern, targeting the Dec 7 highs which sit at $1.9443 and
beyond. Bears need to close back below the 21-dma at $1.7747 to shift the
outlook bearish and open the Dec 26 low at $1.6380.

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