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NYMEX HO: (J18) 21-DMA Continues To Cap...>

OIL TECHS: NYMEX HO: (J18) 21-DMA Continues To Cap
*RES 4: $1.9618 - Low Feb 27 now resistance
*RES 3: $1.9441 - Hourly resistance Feb 28
*RES 2: $1.9300 - 100-DMA
*RES 1: $1.9009 - 21-DMA
*PRICE: $1.8860 @ 0430GMT
*SUP 1: $1.8500 - Low Mar 2
*SUP 2: $1.8419 - High Feb 13 now support
*SUP 3: $1.8174 - Bollinger band base
*SUP 4: $1.8097 - Monthly Low Feb 14
*COMMENTARY: The $1.8500 level supported while the 21-DMA capped last week as
daily studies look to correct from modestly O/S levels. Bulls now need a close
above the 21-DMA to gain breathing room and above $2.0044 to hint at a move back
to 2.0880-2.1098 with above $2.0346 to confirm. While the 21-DMA caps bears
focus on the close below $1.8500 needed to confirm focus on $1.7701-1.8097 where
the 200-DMA and monthly lows are situated.

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