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NYMEX HO: (U18) Bear Channel Low And......>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Bear Channel Low And 200-DMA In Sight 
*RES 4: $2.1834 - High July 27 
*RES 3: $2.1791 - High July 31 
*RES 2: $2.1590 - Low July 30 now resistance 
*RES 1: $2.1250 - 100-DMA 
*PRICE: $2.1015 @ 0550GMT 
*SUP 1: $2.0718 - Low July 19 
*SUP 2: $2.0490 - Low July 18 
*SUP 3: $2.0420 - Daily bear channel bottom 
*SUP 4: $2.0192 - 200-DMA 
Bears will set their sights at the daily bear channel low and the 200-DMA
following yesterday's heavy losses, and a break below these levels would result
in significant chart damage and potentially pave the way for a fall to the
February lows. Bulls will need to recover the 100-DMA at $2.1250 to gain some
breathing room, but the bearish trend will remain intact while prices remain
below $2.1834.

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