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NYMEX HO (M20): Needle Still Points.......>

OIL TECHS
OIL TECHS: NYMEX HO (M20): Needle Still Points South
*RES 4: $0.9070 - 20-day EMA
*RES 3: $0.8632 - High Apr 23 and key near-term resistance
*RES 2: $0.8000 - High Apr 24
*RES 1: $0.7522 - High Apr 27
*PRICE: $0.7073 @ 07:22 GMT Apr 29
*SUP 1: $0.6724 - Low Apr 28
*SUP 2: $0.6000 - Round number support
*SUP 3: $0.5585 - 1.236 projection of Jan 8 - Feb 4 sell-off from the Apr 2 high
*SUP 4: $0.4874 - 1.382 projection of Jan 8 - Feb 4 sell-off from the Apr 2 high
HO remains bearish. Yesterday's low print confirmed a resumption of this year's
downtrend and maintains the current bearish price sequence of lower lows and
lower highs. The recent break of the former low at $0.7084, paves the way for
weakness towards $0.6000 next and $0.5585, a Fibonacci projection level. On the
upside, Initial resistance is seen at $0.7522 while key near-term resistance has
been defined at $0.8632, Apr 23 high.

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