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NYMEX HO (M20): Path Of Least.............>

OIL TECHS
OIL TECHS: NYMEX HO (M20): Path Of Least Resistance Still Up
*RES 4: $1.1602 - High Apr 2 and key resistance
*RES 3: $1.1136 - High Apr 9
*RES 2: $1.0651 - High Apr 13
*RES 1: $1.0286 - High May 18
*PRICE: $1.0077 @ 06:52 GMT May 21
*SUP 1:$0.9199 - High May 6 and former breakout level
*SUP 2: $0.8965 - Low May 15
*SUP 3: $0.8022 - Low May 6 and key near-term support
*SUP 4: $0.7769 - Low May 4
HO futures are unchanged and maintain a bullish theme. The recovery off $0.6724,
Apr 28 low resulted in a break of resistance at $0.8632, Apr 23 high.
Furthermore, futures have managed to clear the 20-day EMA and also the former
resistance at $0.9199, May 6 high reinforcing the current bullish cycle.
Currently, the contract is pressuring the 50-day EMA at $1.0137. A clear break
would open 106.51 and 111.36. Support is seen at $0.9199, the May 6 high.

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