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NYMEX HO (H20): Giving Back its Gains.....>

OIL TECHS
OIL TECHS: NYMEX HO (H20): Giving Back its Gains
*RES 4: $1.8367 - High Jan 22
*RES 3: $1.8010 - High Jan 24
*RES 2: $1.7782 - 38.2% retracement of the Jan 8 - Feb 4 decline
*RES 1: $1.7355 - High Jan 29 and key near-term resistance
*PRICE: $1.6638 @ 09:25 GMT Feb 18
*SUP 1: $1.6100 - Low Feb 10
*SUP 2: $1.5684 - Low Feb 4 and key support
*SUP 3: $1.5629 - 161.8% retracement projection of the Oct 3 - Jan 8 rally
*SUP 4: $1.5128 - 176.4% retracement projection of the Oct 3 - Jan 8 rally
HO has given back the gains seen on Friday, weakening the bullish sentiment that
had strengthened after the break last week of the former key resistance $1.6783,
the Feb 6 high. However, the base at the Feb 4 low of $1.5684 remains some
distance away and the focus remains on gains towards $1.7355, the Jan 29 high.
On the downside, initial key support has been defined at last week's $1.6100
low, the Feb 10 low.

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