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NYMEX HO: (M18) Above $2.1362 Targets.....>

OIL TECHS
OIL TECHS: NYMEX HO: (M18) Above $2.1362 Targets $2.2117-40
*RES 4: $2.2117 - High Dec 1 2014
*RES 3: $2.1367 - Bollinger band top
*RES 2: $2.1362 - 2018 High Jan 26 (cont)
*RES 1: $2.1244 - High Apr 19
*PRICE: $2.1157 @ 0430GMT
*SUP 1: $2.0796 - Low Apr 20
*SUP 2: $2.0592 - Hourly support Apr 18
*SUP 3: $2.0414 - Low Apr 17
*SUP 4: $2.0383 - 21-DMA
*COMMENTARY: Support emerging on Friday's dip ensures pressure remains on
$2.1244-1362 to start the new week. Bull need a close above $2.1362 to confirm
initial focus on $2.2117-40 where the bull channel top is located. O/B studies
looking to correct remain the key concern for bulls. Bears now look for a close
below $2.0796 to shift initial focus back to $2.0383-0414 where the 21-DMA is
situated. Bears the 21-DMA initially targets $1.9456-1.9975.

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