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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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OIL TECHS: NYMEX HO (H20): Key Support Intact
*RES 4: $1.8010 - High Jan 24
*RES 3: $1.7782 - 38.2% retracement of the Jan 8 - Feb 4 decline
*RES 2: $1.7355 - High Jan 29 and key near-term resistance
*RES 1: $1.7183 - High Feb 20 and bull trigger
*PRICE: $1.6298 @ 07:37 GMT Feb 25
*SUP 1: $1.5831 - Low Feb 24
*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 stalled last week at $1.7183 on Feb 20 and was weaker again yesterday. The
failure at $1.7183 also marks a failure at the 23.6% retracement of the Jan 8 -
Feb 4 decline at $1.6980. For now, the move lower is viewed as a correction. The
next support lies at yesterday's 1.5831 low ahead of the key $1.5684 low from
Feb 4. An ability to hold above this zone would resume attention of gains and
the bull trigger at $1.7183. A break of $1.5684 resumes the downtrend.

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