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NYMEX HO: (M18) 21-DMA Support Key........>

OIL TECHS
OIL TECHS: NYMEX HO: (M18) 21-DMA Support Key Today
*RES 4: $2.1917 - Bollinger band top
*RES 3: $2.1726 - 2018 High Apr 30
*RES 2: $2.1537 - High May 1
*RES 1: $2.1209 - Hourly resistance May 1
*PRICE: $2.1070 @ 0430GMT
*SUP 1: $2.0910 - Low May 1
*SUP 2: $2.0796 - Low Apr 20
*SUP 3: $2.0774 - 21-DMA
*SUP 4: $2.0414 - Low Apr 17
*COMMENTARY: The lack of topside follow through on 2018 & 3+yr highs is a
concern for bulls given correcting O/B studies and the Bollinger top capping.
Bears now look for a close below the 21-DMA to confirm an easing of bullish
pressure and below $2.0414 to shift focus to $1.9776-1.9975 where 55 & 100-DMAs
are noted. Bulls now need a close above $2.1726 to reconfirm overall focus on
$2.2117-3257 where levels seen late 2014 are situated.

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