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NYMEX HO (N19) Bears Still Looking for....>

OIL TECHS
OIL TECHS: NYMEX HO (N19) Bears Still Looking for a Close Below $1.80 
*RES 4: $1.9909 - 100-dma 
*RES 3: $1.9438 - Low Mar 28, now resistance 
*RES 2: $1.9196 - High May 31 
*RES 1: $1.8564 - High June 3 
*PRICE: $1.8083 @ 03:17 GMT Jun 5 
*SUP 1: $1.7824 - Low June 4 
*SUP 2: $1.7790 - Low Jan 8 
*SUP 3: $1.7593 - 76.4% retracement of Jan-May rally 
*SUP 4: $1.7392 - Low Jan 4 
Heating oil futures dipped as low as $1.7824 yesterday before the recovery in
risk appetite allowed a recovery of the level at the close. To improve the
outlook bulls need to recover Monday's high at $1.8564, while a break above
Friday's high at $1.9196 would allow a run at the March 28 low at $1.9438. Bears
look for a close below $1.80 to open the Jan 8 low at $1.7790 ahead of the 76.4%
retracement of the Jan-May rally at $1.7593. 

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