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NYMEX HO (M19) Uptrend and 55-DMA.........>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Uptrend and 55-DMA Provide Strong Support
*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: $2.0977 - High May 2 
*PRICE: $2.0637 @ 05:47 GMT May 7 
*SUP 1: $2.0287/0271/0271 - 55-dma/Uptrend support from Jan lows/Low May 6 
*SUP 2: $1.9417 - Low Mar 8 
*SUP 3: $1.9380/9281 - 100-dma/Feb 4 high 
*SUP 4: $1.8236 - Low Jan 28 
Heating oil futures have recovered their 200-dma that gave way yesterday after
the 55-dma and uptrend from the Jan lows provided key support. The focus now
shifts back to the May 2 high at $2.0977 above which would target the April 22
ytd high at $2.1268. Bears have the tough task of taking out the 55-dma/uptrend
support from Jan lows/and yesterday's low at $2.0287/0271/0271 to regain the
upper hand.

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