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NYMEX HO: (N18) Gaining Traction Below....>

OIL TECHS
OIL TECHS: NYMEX HO: (N18) Gaining Traction Below 21-DMA
*RES 4: $2.2885 - Hourly resistance May 24
*RES 3: $2.2467 - Low May 21 now resistance
*RES 2: $2.2258 - Low May 16 now resistance
*RES 1: $2.2071 - 21-DMA
*PRICE: $2.1835 @ 0430GMT
*SUP 1: $2.1647 - Low May 28
*SUP 2: $2.0902 - 55-DMA
*SUP 3: $2.0884 - Bollinger band base
*SUP 4: $2.0774 - Low Apr 20
*COMMENTARY: The lack of topside follow through last week and hesitation ahead
of 2018 highs resulted in a sell-off that now sees the contract gaining traction
below the 21-DMA. Daily studies have room to move before O/S is an issue as
bears now focus on $2.0774-2.0902 where the 55-DMA is located. Bulls now look
for a close above the 21-DMA to gain breathing room and above $2.2467 to shift
focus back to 2018 highs.

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