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NYMEX HO (M19) Bears Look For A Close.....>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Bears Look For A Close Below The 55-DMA 
*RES 4: $2.1852 - High Nov 8, 2018 
*RES 3: $2.1730 - Channel top 
*RES 2: $2.1377 - High May 16 
*RES 1: $2.0680 - 21-dma
*PRICE: $2.0417 @ 02:42 GMT May 23 
*SUP 1: $2.0412 - 55-dma 
*SUP 2: $2.0209 - Low May 7 
*SUP 3: $1.9771 - 100-dma 
*SUP 4: $1.9417 - Low Mar 8 
Heating oil futures sit just above the 55-dma at $2.0412 with bears looking for
a close below here to suggest a bearish reversal. Below here would  extend the
selloff to the May 7 low at $2.0209 ahead of the 100-dma at $1.9771. Bulls need
to recover the 21-dma at $2.0680 to stabilise the outlook and put the focus back
on the May 16 high at $2.1377. Above here would bring channel resistance into
focus at $2.1730.

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