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NYMEX HO: (N18) 55-DMA Supporting For.....>

OIL TECHS
OIL TECHS: NYMEX HO: (N18) 55-DMA Supporting For Now
*RES 4: $2.2168 - Hourly resistance May 31
*RES 3: $2.1917 - Hourly resistance June 1
*RES 2: $2.1647 - Low May 28 now resistance
*RES 1: $2.1487 - Low June 4 now resistance
*PRICE: $2.1448 @ 0430GMT
*SUP 1: $2.1271 - Bollinger band base
*SUP 2: $2.1200 - 55-DMA
*SUP 3: $2.0877 - Monthly Low May 2
*SUP 4: $2.0774 - Low Apr 20
*COMMENTARY: The sell-off from 2018 highs now sees the contract finding support
around the 55-DMA. Bears look for a close below $2.0774 to confirm traction
below the 55-DMA and to shift immediate focus to $2.0344-0416 where the 100-DMA
is found. O/S daily studies and the Bollinger base are key concerns for bears.
Bulls now need a close above $2.1917 to gain breathing room and above $2.2467 to
return immediate focus to retests of 2018 highs.

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