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NYMEX HO: (K18) Bulls Need Close Above....>

OIL TECHS
OIL TECHS: NYMEX HO: (K18) Bulls Need Close Above 100-DMA
*RES 4: $1.9937 - High Feb 26
*RES 3: $1.9759 - Bollinger band top
*RES 2: $1.9630 - 55-DMA
*RES 1: $1.9266 - 100-DMA
*PRICE: $1.9109 @ 0430GMT
*SUP 1: $1.9035 - Hourly resistance Mar 16 now support
*SUP 2: $1.8857 - Low Mar 15
*SUP 3: $1.8705 - Low Mar 14
*SUP 4: $1.8442 - Low Mar 12
*COMMENTARY: The 100-DMA remains key resistance confirming significance capping
Friday. Bulls look for a close above the 100-DMA to shift focus to
$1.9630-2.0129 where the 55-DMA is situated. Daily studies correcting from
modestly O/S levels add to bullish confidence. Bears now need a close below
$1.9035 to ease pressure on the 100-DMA and below $1.8442 to hint at a move back
to $1.7698-1.7759 where the 200-DMA is noted.

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