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NYMEX HO (K19) Bulls Extend Gains *RES....>

OIL TECHS
OIL TECHS: NYMEX HO (K19) Bulls Extend Gains
*RES 4: $2.2105 - Low Oct 24 
*RES 4: $2.1837 - High Nov 8 
*RES 3: $2.1108 - 61.8% Retracement 
*RES 1: $2.1000 - Bull flag breakout target 
*PRICE: $2.0786 @ 05:44 GMT Apr 11 
*SUP 1: $2.0020 - Low Apr 5 
*SUP 2: $1.9369/9261 - Low Mar 22/High Feb 4 
*SUP 3: $1.9012 - 100-dma 
*SUP 4: $1.8595 - Low Feb 7 
Heating oil futures hit fresh ytd highs yesterday as the bull flag breakout
target comes into focus at $2.10. Above here would open the 61.8% retracement of
the Oct-Dec decline at $2.1108 ahead of the Nov 8 high. To stabilise the outlook
bears look for a move back below Friday's low at $2.0020. A break below the
March 22 low/Feb 4 high at $1.9369/9261 is needed to suggest a downside
reversal.

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