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NYMEX HO (G20): Bears Remains In Charge...>

OIL TECHS
OIL TECHS: NYMEX HO (G20): Bears Remains In Charge
*RES 4: $1.8859 - High Jan 21 and key near-term resistance
*RES 3: $1.8306 - High Jan 22
*RES 2: $1.7969 - High Jan 24
*RES 1: $1.7339 - High Jan 29
*PRICE: $1.6793 @ 07:23 GMT Jan 30
*SUP 1: $1.6556 - Low Jan 27
*SUP 2: $1.6191 - 138.2% retracement of the Aug - Jan rally
*SUP 3: $1.6000 - Round number support
*SUP 4: $1.5764 - 150.0% retracement of the Aug - Jan rally
HO stalled at yesterday's high of $1.7339 with the focus back on the bear
trigger at $1.6556, the Jan 27 low. From a technical standpoint, the recent
recovery is viewed as a correction. Recent sharp losses are still seen weighing
on sentiment with bearish technical conditions remaining in place. Attention is
on $1.6191 next, a Fibonacci retracement extension level. Resistance has been
defined at $1.7339.

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