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NYMEX HO (M19) Loses Its Grip On $2.0 ....>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Loses Its Grip On $2.0 
*RES 4: $2.1910 - Channel top 
*RES 3: $2.1377 - High May 16 
*RES 2: $2.0850 - High May 21 
*RES 1: $2.0352/91 - 200-dma/55-dma 
*PRICE: $1.9875 @ 02:07 GMT May 29 
*SUP 1: $1.9430 - Low May 24 
*SUP 2: $1.9417/1.9399/1.9381 - Low Mar 28/Low Mar 8/38.2% retracement 
*SUP 3: $1.8765 - 50% retracement of Dec-May gains 
*SUP 4: $1.8236 - Low Jan 28 
The rally in Heating oil futures lost steam ahead of the 200-dma/55-dma
yesterday before giving up the $2.0 to return the focus back to the downside.
Bears now target Friday's low at $1.9430 below which would open the
$1.9417/1.9399/1.9381 area marking the Mar 28 low/Mar 8 low/38.2% retracement of
the Dec-May rally. Bulls need a break above $2.0352/91 to return the focus to
the May 21 high at $2.0850 ahead of the May 16 contract high at $2.1377.

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