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NYMEX HO (M19) 55-DMA Gains Importance....>

OIL TECHS
OIL TECHS: NYMEX HO (M19) 55-DMA Gains Importance
*RES 4: $2.2125 - Low Oct 24, 2018 
*RES 3: $2.1852 - High Nov 8, 2018 
*RES 2: $2.1268 - High Apr 22 
*RES 1: $2.1077 - High May 13 
*PRICE: $2.0389 @ 05:50 GMT May 14 
*SUP 1: $2.0316/0209 - 55-dma/Low May 7 
*SUP 2: $1.9417/9479 - Low Mar 8/100-dma 
*SUP 3: $1.9281 - Feb 4 high 
*SUP 4: $1.8236 - Low Jan 28 
Heating oil futures attempted a bull flag breakout yesterday but momentum faded
ahead of the ytd highs bringing the key 55-dma support level back into focus
just below current levels. Below here and the May 7 low would suggest a downside
reversal towards the March 8 low/100-dma at $1.9417/79. Bulls need to recover
yesterday's high at $2.1077 to shift the focus back to the ytd highs at $2.1268
and extend the broader uptrend. 

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