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NYMEX HO (K19) 61.8% Retracement Gives....>

OIL TECHS
OIL TECHS: NYMEX HO (K19) 61.8% Retracement Gives Way
*RES 4: $2.2709 - High Oct 26 
*RES 3: $2.2105 - Low Oct 24 
*RES 2: $2.1837 - High Nov 8 
*RES 1: $2.1242 - High Apr 22 
*PRICE: $2.108 @ 05:37 GMT Apr 23
*SUP 1: $2.0464/0433 - Low Apr 15/200-dma 
*SUP 2: $2.0020/1.9985 - Low Apr 5/55-dma 
*SUP 3: $1.9369/9261 - Low Mar 22/High Feb 4 
*SUP 4: $1.9117 - 100-dma 
Heating oil futures closed above the $2.10 level yesterday after taking out the
61.8% retracement of the Oct-Dec decline. Bulls now look to overcome yesterday's
high at $2.1242 to open a run at the Nov 8 high which comes in at $2.1837. Bears
need a break below the April 15 low and the 200-dma at $2.0464/0433 to open the
April 5 low/55-dma at $2.0020/1.9985.

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