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NYMEX HO (U19): Correction over? *RES.....>

OIL TECHS
OIL TECHS: NYMEX HO (U19): Correction over?
*RES 4: $1.9260 - Trendline resistance drawn off the May 16 high
*RES 3: $1.9129 - High Aug 2
*RES 2: $1.8839 - High Aug 13
*RES 1: $1.880071 - High Aug 21 / 50-day EMA
*PRICE: $1.8395 @ 06:33 BST Aug 23
*SUP 1: $1.7914 - Low Aug 13
*SUP 2: $1.7719 - Low Aug 9
*SUP 3: $1.7450 - Low Aug 7 and bear trigger
*SUP 4: $1.7402 - Low Jun 5 (continuation)
HO near-term directional signals have changed. A bearish candle formation
Wednesday in the shape of a shooting star (inverted hammer) signals an end to
the recent corrective recovery. This has developed with resistance at $1.8839,
the Aug 13 high intact. If correct, bearish activity is likely to resurface and
the focus turns to support at $1.7914, the low of Aug 13. On the upside, a move
above $1.8839 is required to reinstate a bullish theme.

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