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NYMEX HO: (H18) Bulls Need Close Above....>

OIL TECHS
OIL TECHS: NYMEX HO: (H18) Bulls Need Close Above 21-DMA
*RES 4: $2.0910 - Hourly support Feb 1 now resistance
*RES 3: $2.0700 - 21-DMA
*RES 2: $2.0652 - Hourly resistance Feb 2
*RES 1: $2.0442 - Hourly support Feb 2 now resistance
*PRICE: $2.0339 @ 0430GMT
*SUP 1: $2.0285 - Low Jan 3
*SUP 2: $2.0224 - Bollinger band base
*SUP 3: $2.0054 - Daily Bull channel base
*SUP 4: $1.9921 - 55-DMA
*COMMENTARY: Bulls recently failed to capitalise on fresh 2018 & 3+ year highs
with the correction lower gathering steam. Bears now look for a close below
$2.0285 to add weight to the case for a test of the $1.9724-2.0059 support
region where the bull channel base and 55-DMA are located. Bulls now need a
close above the 21-DMA to gain breathing room and above $2.1005 to shift initial
focus back to 2018 highs ($2.1362).

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