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NYMEX HO: (U18) $2.1590 To Act As.........>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) $2.1590 To Act As Support
*RES 4: $2.2970 - High May 22
*RES 3: $2.2388 - High July 10 
*RES 2: $2.2150 - Daily bear channel top off May 22 high 
*RES 1: $2.1857 - High July 26 
*PRICE: $2.1776 @ 0400GMT 
*SUP 1: $2.1590 - Low July 30 
*SUP 2: $2.1459 - 21-DMA 
*SUP 3: $2.1346 - Low July 25 
*SUP 4: $2.1177 - Hourly support July 23
The bear channel from the May 22 highs remains intact with bulls needing a break
above the July 26 high to mount a test of the downtrend. Bears will need a break
below yesterday's low , and below that the 21-DMA to suggest that the broader
downtrend is set to continue. 

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