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NYMEX HO (M20): Uptrend Still Intact......>

OIL TECHS
OIL TECHS: NYMEX HO (M20): Uptrend Still Intact
*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 and the bull trigger
*PRICE: $1.0154 @ 06:59 GMT May 26
*SUP 1: $0.9344 - Low May 22
*SUP 2: $0.9199 - High May 6 and former breakout level
*SUP 3: $0.9056 - Trendline support drawn off the Apr 28 low
*SUP 4: $0.8244 - May 14 low
HO maintains a bullish outlook. The recovery off $0.6724, Apr 28 low resulted in
a break of resistance at $0.8632, Apr 23 high. Furthermore, futures managed to
clear the 20-day EMA and the former resistance at $0.9199, May 6 high
reinforcing the bullish cycle. The contract has also tested the 50-day EMA
currently at $1.0116. A clear break would open 106.51 and 111.36. Support is
seen at $0.9344, May 22 low.

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