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NYMEX HO: (U18) Bears Now Need Close......>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Bears Now Need Close Below 200-DMA
*RES 4: $2.1735 - 55-DMA
*RES 3: $2.1615 - Low July 6 now resistance
*RES 2: $2.1164 - Hourly support July 13 now resistance
*RES 1: $2.0938 - 100-DMA
*PRICE: $2.0660 @ 0430GMT
*SUP 1: $2.0576 - Low July 16
*SUP 2: $2.0463 - Bollinger band base
*SUP 3: $2.0337 - Daily Bear channel base
*SUP 4: $2.0314 - Low Apr 11
*COMMENTARY: Hesitation ahead of the 21 ($2.1423) & 55-DMAs has resulted in
closes below the 100-DMA and bull channel base off Feb 14 lows with immediate
focus now on the $1.9866-2.0337 region where the bear channel base and 200-DMA
($1.9884) are located. Bears now need a close below the 200-DMA to hint at a
move back to $1.8135-1.8531. Bulls now look for a close above the 100-DMA to
gain breathing room.

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