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NYMEX HO: (U18) Upside Momentum...........>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Upside Momentum Gathering 
*RES 4: $2.2387 - High July 10 
*RES 3: $2.2100 - Daily bear channel top
*RES 2: $2.1834 - High July 27 
*RES 1: $2.1791 - High July 31 
*PRICE: $2.1657 @ 0515 GMT 
*SUP 1: $2.1320 - Low August 6
*SUP 2: $2.1132 - Low August 3 
*SUP 3: $2.0867 - Low August 2 
*SUP 4: $2.0718 - Low July 19 
Heating oil is looking increasingly bullish as prices edge to the upper end of a
large flag pattern that has been forming since the May 22 peak. A break above
$2.1791 would allow bulls to mount a run at the daily bear channel top that
currently comes in around $2.1100. Bears need to close below $2.1320 to regain
some breathing room, and the August 2 lows at $2.0867 to shift the broader focus
lower.

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