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OIL TECHS: NYMEX HO (U19): Focus is on Aug 13 high
*RES 4: $1.9387 - Trendline resistance drawn off the May 16 high
*RES 3: $1.9129 - High Aug 2
*RES 2: $1.8839/8941 - High Aug 13 / 50-day EMA
*RES 1: $1.8439 - High Aug 15
*PRICE: $1.8262 @ 06:06 BST Aug 19
*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 closed Friday near the lower end of last weeks range. A key resistance has
been defined at $1.8839, the Aug 13 high. While gains since the low on Aug 7
have neutralised the recent bearish tone, a break of $1.8839 is required to
signal scope for an extension higher. This would open $1.8941 initially, the
50-day EMA and $1.9129 . On the downside, a move below the Aug 13 low of $1.7914
low would instead expose key support at $1.7450, the Aug 7 low.