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NYMEX HO (N20): Bullish Above Trendline...>

OIL TECHS
OIL TECHS: NYMEX HO (N20): Bullish Above Trendline Support
*RES 4: $1.2766 - High Mar12
*RES 3: $1.2505 - 38.2% retracement of the Jan - Apr Sell-off
*RES 2: $1.2000 - Round number resistance
*RES 1: $1.1959 - High Jun 16 and intraday bull trigger
*PRICE: $1.1812 @ 07:12 GMT Jun 18
*SUP 1: $1.0869/0534 - Trendline support drawn off the Apr 28 low / Low Jun 12
*SUP 2: $1.0084 - Low Jun 1
*SUP 3: $0.9562 - Low May 29 and key support
*SUP 4: $0.9307 - Low May 15
HO has strengthened this week and Tuesday traded above resistance at 1.1824, Jun
8 and 10 high. This confirms a resumption of the uptrend that has been in place
since Apr 28. The initial key support is defined by the trendline drawn off the
Apr 28 low. The trendline intersects at $1.0869 today. A break would threaten
the recent bull run and also signal a possible reversal exposing $1.0534, Jun 12
low.

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