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NYMEX HO (K20): Path Of Least.............>

OIL TECHS
OIL TECHS: NYMEX HO (K20): Path Of Least Resistance Still Down
*RES 4: $0.9137 - 20-day EMA
*RES 3: $0.8855 - Low Apr 20
*RES 2: $0.8144 - High Apr 23 and key resistance
*RES 1: $0.7280 - High Apr 24
*PRICE: $0.6384@ 08:06 GMT Apr 27
*SUP 1: $0.6350 - Low Apr 24
*SUP 2: $0.6000 - Psychological round number
*SUP 3: $0.5684 - 2.236 projection of Jan 8 - Feb 4 sell-off from Feb 20 high
*SUP 4: $0.5000 - Round number support
HO remains bearish and Friday traded to fresh 2020 lows, confirming once again a
resumption of this year's downtrend and maintaining the current bearish price
sequence of lower lows and lower highs. The break of the former low at $0.6725,
paves the way for weakness towards $0.6000 and $0.5684, a Fibonacci projection
level. On the upside, Initial resistance is seen at $0.7280 while key resistance
has been defined at $0.8144, Apr 23 high.

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