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NYMEX HO (U19): Still vulnerable *RES.....>

OIL TECHS
OIL TECHS: NYMEX HO (U19): Still vulnerable
*RES 4: $1.9197 - Trendline resistance drawn off the May 16 high
*RES 3: $1.8807/39 - 50-day EMA / High Aug 13 and key resistance
*RES 2: $1.8800 - High Aug 21
*RES 1: $1.8455 - High aug 23
*PRICE: $1.8002 @ 06:21 BST Aug 27
*SUP 1: $1.7897 - Low Aug 26
*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 directional signals have turned bearish once again. A bearish candle
formation last Wednesday in the shape of a shooting star (inverted hammer)
signalled an end to the recent corrective recovery. The subsequent sell-off left
resistance at $1.8839, the Aug 13 high intact. A break below yesterday's 178.97
low would open $1.7450, the key support and Aug 7 low. A move above $1.8839 is
required to reinstate a bullish theme.

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