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OIL TECHS: NYMEX HO (K19) Upside Break
*RES 4: $2.1837 - High Nov 8
*RES 3: $2.0482 - 200-dma
*RES 2: $2.0420 - High Mar 1
*RES 1: $2.0304 - High Mar 7
*PRICE: $2.0122 @ 05:39 GMT Apr 3
*SUP 1: $1.9369/9261 - Low Mar 22/High Feb 4
*SUP 2: $1.9024 - 100-dma
*SUP 3: $1.8595 - Low Feb 7
*SUP 4: $1.8197 - Low Jan 28
Heating oil futures broke back above the $2.0 level yesterday as well as the
March 20,21 highs to suggest a potential bull flag breakout. The next upside
target comes in at the March 7 high at $2.0304 ahead of the ytd high at $2.0420
seen on March 1. Above here would open the 200-dma just ahead at $2.0482. Bears
look for a move back below the March 22 low/Feb 4 high at $1.9369/9261 and the
100-dma at $1.9034 to suggest a downside reversal.