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NYMEX HO (M19) Uptrend Refuses to Give....>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Uptrend Refuses to Give Way
*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: $2.0440 @ 05:51 GMT May 8 
*SUP 1: $2.0291/0281/0209 - 55-dma/Uptrend support from Jan lows/Low May 7 
*SUP 2: $1.9417 - Low Mar 8 
*SUP 3: $1.9399/9281 - 100-dma/Feb 4 high 
*SUP 4: $1.8236 - Low Jan 28 
Heating oil futures continue to respect uptrend support from the Jan lows as
well as the 55-dma, but the near term outlook remains negative as upside
momentum remains lacking. A break below the 55-dma/uptrend support from Jan
lows/May 7 low at $2.0291/0281/0209 would suggest a downside reversal. Bulls
target the May 2 high at $2.0977 above which would target the April 22 ytd high
at $2.1268. 

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