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NYMEX HO (J19) Pullback Off The High......>

OIL TECHS
OIL TECHS: NYMEX HO (J19) Pullback Off The High
*RES 4: $2.2206 - High Nov 8 
*RES 3: $2.0544 - 200-dma 
*RES 2: $2.0479 - High Mar 1 
*RES 1: $2.0141 - High Mar 20 
*PRICE: $1.9732 @ 06:45 GMT Mar 29
*SUP 1: $1.9349/9302 - Low Mar 22/High Feb 4 
*SUP 2: $1.9165/9094 - Pivotal Support/100-dma 
*SUP 3: $1.8625 - Low Feb 7 
*SUP 4: $1.8311 - Low Jan 28 
The pullback off recent highs extended back through $1.9500 Thursday, before
modest recovery ensued. Bears look for a move back below to bring the Mar 22 low
into view at $1.9349, ahead of pivotal support & 100-dma at $1.9165/9094. Bulls
need to recover the $2.0 level to return the focus to the March 20 high at
$2.0141. Above here would suggest a potential bull flag breakout opening the
March 1 high at $2.0479 ahead of the 200-dma which crosses at $2.0544. 
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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