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NYMEX HO (M19) Channel Top In Focus.......>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Channel Top In Focus
*RES 4: $2.2301 - 76.4% retracement of Oct-Dec decline 
*RES 3: $2.2125 - Low Oct 24, 2018 
*RES 2: $2.1852 - High Nov 8, 2018 
*RES 1: $2.1640 - Channel top
*PRICE: $2.1278 @ 02:04 GMT May 17 
*SUP 1: $2.0376/0209 - 55-dma/Low May 7 
*SUP 2: $1.9615/9417 -100-dma/Low Mar 8 
*SUP 3: $1.9281 - Feb 4 high 
*SUP 4: $1.8236 - Low Jan 28 
Heating oil futures posted marginal new highs yesterday to put the focus on
channel resistance which comes in at $2.1640. A break above here would build
momentum opening the Nov 8 high/Oct 24 low at $2.1852/2125. For bears a break
below the 55-dma and the May 7 low at $2.0209 is needed to suggest a downside
reversal towards the 100-dma/Low Mar 8 at $1.9615/9417.

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