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NYMEX HO (M19) Bears Eye 55-DMA *RES....>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Bears Eye 55-DMA  
*RES 4: $2.2125 - Low Oct 24, 2018 
*RES 3: $2.1852 - High Nov 8, 2018 
*RES 2: $2.1710 - Channel top 
*RES 1: $2.1377 - High May 16 
*PRICE: $2.0788 @ 01:27 GMT May 22 
*SUP 1: $2.0410 - 55-dma
*SUP 2: $2.0209 - Low May 7 
*SUP 3: $1.9734 - 100-dma 
*SUP 4: $1.9417 - Low Mar 8 
Heating oil futures remain under pressure as bears now look to target the 55-dma
at $2.0410 to extend the selloff to the May 7 low at $2.0209. A break would
build downside momentum towards the 100-dma at $1.9734. Bulls look to recover
Thursday's high at $2.1377. Above here would bring channel resistance into focus
at $2.1690, while a break above here would build momentum opening the Nov 8
high/Oct 24 low at $2.1852/2125.

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