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NYMEX HO (H19) Feb 4 High Back Under......>

OIL TECHS
OIL TECHS: NYMEX HO (H19) Feb 4 High Back Under Pressure
*RES 4: $2.1039 - 200-dma (continuation chart) 
*RES 3: $2.0430 - Prior range lows, now resistance (continuation chart) 
*RES 2: $1.9534 - High Dec 7 (continuation chart) 
*RES 1: $1.9386 - High Feb 4 
*PRICE: $1.9122 @ 05:44 GMT Feb 7 
*SUP 1: $1.8380 - 50-dma (continuation chart) 
*SUP 2: $1.7900 - Low Nov 30 (continuation chart) 
*SUP 3: $1.6424 - Low Jan 02 
*SUP 4: $1.5488 - Low Aug 17, 2017 (continuation chart) 
Heating oil futures has moved back to the top of their short term range bringing
Monday's high back into focus ahead of the Dec 7 highs at $1.9534. Above here
would extend the recovery and trigger an inverse head and shoulders pattern,
targeting the 200-dma. Bears downside focus remains on the 50-dma at $1.8380, a
break brings the Nov 30 low at $1.7900.

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