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NYMEX HO: (Q18) $2.0689 Support Remains...>

OIL TECHS
OIL TECHS: NYMEX HO: (Q18) $2.0689 Support Remains Key
*RES 4: $2.1988 - Low July 10 now resistance
*RES 3: $2.1732 - 55-DMA
*RES 2: $2.1453 - 21-DMA
*RES 1: $2.1346 - High July 12
*PRICE: $2.1287 @ 0430GMT
*SUP 1: $2.0873 - 100-DMA
*SUP 2: $2.0689 - Monthly Low June 18
*SUP 3: $2.0312 - Low Apr 11
*SUP 4: $1.9920 - High Apr 9 now support
*COMMENTARY: The topside failure ahead of the key $2.2421 resistance has taken
its toll with a sharp sell-off and close below the bull channel base that sees
focus now on $2.0689-0873 where the 100-DMA and June lows are noted. A close
below $2.0689 ends bullish hopes and initially targets $1.9920-2.0312. Bulls now
need a close above the 21-DMA to gain breathing room and above $2.1988 to return
pressure to the key $2.2421 resistance.

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