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NYMEX HO (U19): Multiple Bearish..........>

OIL TECHS
OIL TECHS: NYMEX HO (U19): Multiple Bearish Signals
*RES 4: $1.9647 - High Jul 31 (continuation)
*RES 3: $1.9471 - High Jul 24 (continuation)
*RES 2: $1.9129 - High Aug 2
*RES 1: $1.8526/57 - Low Jul 18 (continuation)/ High Aug 6
*PRICE: $1.8161 @ 08:43 BST Aug 7
*SUP 1: $1.7717 - Low Jun 12 (continuation)
*SUP 2: $1.7402 - Low Jun 5 (continuation)
*SUP 3: $1.6801 - Low Jan 3 (continuation)
*SUP 4: $1.6424 - Low Jan 2 (continuation)
HO has broken sharply lower through multiple key support levels to generative
significant bearish technical signals. Trendline support and near-term pivotal
support have both been breached. Trend and momentum indicators are also giving
negative signals. Medium term focus is now set to return to the 1.7402 June low.

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