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NYMEX HO (N19): Set To Test Long Term.....>

OIL TECHS
OIL TECHS: NYMEX HO (N19): Set To Test Long Term Uptrend Support
*RES 4: $1.9897 - 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: $1.7755 @ 06:41 GMT Jun 6
*SUP 1: $1.7257 - High Dec 26
*SUP 2: $1.6687 - L/T Up Trendline Support
*SUP 3: $1.6326 - Low Dec 26
*SUP 4: $1.5932 - Low Aug 16
Trend and momentum indicators are giving increasingly bearish signals for
Heating Oil futures. The 50-dma has now crossed below the 200-dma, adding to the
negative technical picture. This sets up a test of the major up trendline
support currently intervening at $1.6687. Below here the focus switches to the
December lows at $1.6326.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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