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NYMEX HO: (U18) Bullish Key Day...........>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Bullish Key Day Reversal
*RES 4: $2.2042 - Low July 10 now resistance
*RES 3: $2.1740 - 55-DMA
*RES 2: $2.1615 - Low July 6 now resistance
*RES 1: $2.1164 - Hourly support July 13 now resistance
*PRICE: $2.0926 @ 0430GMT
*SUP 1: $2.0877 - High July 17 now support
*SUP 2: $2.0474 - Low July 18, Bollinger band base
*SUP 3: $2.0314 - Low Apr 11, Daily Bear channel base
*SUP 4: $1.9905 - 200-DMA
*COMMENTARY: A bullish key day reversal is a concern for bears when combined
with daily studies correcting from O/S. Initial support is now noted at $2.0877
with bears needing a close below to gain breathing room. Overall bears need a
close below $2.0314 to confirm focus on tests of the 200-DMA. Bulls now focus on
$2.1421-1740 where 21 & 200-DMAs are noted while $2.0877 supports. Above the
55-DMA hints at a move back to $2.2388-2474.

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