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NYMEX HO (N19): Gains set to extend.......>

OIL TECHS
OIL TECHS: NYMEX HO (N19): Gains set to extend
*RES 4: $2.0442 - 76.4% retracement of the May 16-Jun 5 decline
*RES 3: $2.0219/37/38 - High May 28, low May 7/9
*RES 2: $1.9861 - 61.8% retracement of the May 16-Jun 5 decline
*RES 1: $1.9776 - High Jun 26
*PRICE: $1.9676 @ 06:41 BST Jun 27
*SUP 1: $1.8900 - Jun 24 low
*SUP 2: $1.8757 - Jun 21 low
*SUP 3: $1.8426 - High Jun 10 and last weeks bullish breakout point
*SUP 4: $1.7802 - Jun 18 low
HO extended gains yesterday, once again resuming the uptrend. The current
bullish tone holds and follows last week's break of former resistance at the
June 6 high of $1.8426. Momentum studies are rising, this reinforces the bull
tone. Attention is on $1.9861 next, the 61.8% retracement of the May 16-Jun 5
decline. The 76.4% level intersects at 2.0442. Initial key support lies at
$1.8426 and support ahead of this level is at $1.8900 and 1.8757.

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