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NYMEX HO: (M18) Topside Follow Through....>

OIL TECHS
OIL TECHS: NYMEX HO: (M18) Topside Follow Through Lacking
*RES 4: $2.2117 - High Dec 1 2014 (Cont)
*RES 3: $2.1588 - Bollinger band top
*RES 2: $2.1484 - 2018 High Apr 24
*RES 1: $2.1264 - Hourly support Apr 24 now resistance
*PRICE: $2.1182 @ 0430GMT
*SUP 1: $2.0923 - Low Apr 23
*SUP 2: $2.0796 - Low Apr 20
*SUP 3: $2.0592 - Hourly support Apr 18
*SUP 4: $2.0482 - 21-DMA
*COMMENTARY: The lack of topside follow through is a concern for bulls given
daily momentum divergence, correcting O/B studies and the Bollinger top capping.
Immediate focus has returned to $2.0796 with bears needing a close below to then
pressure $2.0414-0592 where the 21-DMA is located. Bulls now need a close above
$2.1264 to gain breathing room and above $2.1484 to reconfirm focus on
$2.2117-87 where the daily bull channel top is located.

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