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NYMEX HO (K20): Approaching Key Support...>

OIL TECHS
OIL TECHS: NYMEX HO (K20): Approaching Key Support
*RES 4: $1.1184 - High Mar 20
*RES 3: $1.1104 - High Apr 3
*RES 2: $1.0777 - High Apr 9
*RES 1: $1.0281 - High Apr 13
*PRICE: $0.9376 @ 07:43 GMT Apr 15
*SUP 1: $0.9303 - Low Apr 1 and bear trigger
*SUP 2: $0.9000 - Round number support
*SUP 3: $0.8842 - 1.618 projection of Jan 8 - Feb 4 sell-off from Feb 20 high
*SUP 4: $0.8096 - 1.764 projection of Jan 8 - Feb 4 sell-off from Feb 20 high
HO is softer. A bearish threat is again beginning to dominate. The recent spike
higher to $1.1384 on Apr 2 has failed to deliver any follow through and this is
starting to weigh on the contract. The focus shifts to the key support and bear
trigger at $0.9303, Apr 1 low where a break would confirm a resumption of this
year's downtrend and open $0.8842, a Fibonacci projection. Key resistance
remains $1.1384.

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