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NYMEX HO: (Q18) $2.2421 Resistance........>

OIL TECHS
OIL TECHS: NYMEX HO: (Q18) $2.2421 Resistance Remains Key
*RES 4: $2.2421 - High May 31
*RES 3: $2.2344 - Bollinger band top
*RES 2: $2.2268 - Hourly resistance July 10
*RES 1: $2.2060 - Hourly support July 10 now support
*PRICE: $2.2040 @ 0430GMT
*SUP 1: $2.1748 - 55-DMA
*SUP 2: $2.1558 - Low July 6
*SUP 3: $2.1557 - 21-DMA
*SUP 4: $2.1412 - Low July 3
*COMMENTARY: Bulls took comfort in support emerging on the dip below the 21-DMA
last week with the 55-DMA now supporting and pressure back on the $2.2421. Bulls
continue to look for a close above $2.2421 to return focus to 2018 highs. The
Bollinger top and modestly O/B studies are concerns for bulls. Bears now need a
close below the 55-DMA to gain breathing room and below the bull channel base
($2.1138) to shift immediate focus to $2.0689-0806.

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