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NYMEX HO: (U18) Below $2.1544 Would.......>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Below $2.1544 Would Confirm Bearish Break
With the rally failing to overcome the bear channel from the May 22 highs and
uptrend support from the July 18 low giving way on Friday, the focus shifts
lower, with bears needing a move below the July 26 low of $2.1544 to confirm the
end of the ST uptrend. Bulls need a move back above Friday's high of $2.1836 to
allow the ST uptrend to resume and mount a challenge at bear channel resistance
that comes in around $2.2200.

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