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NYMEX HO: (V18) Bearish Reversal..........>

OIL TECHS
OIL TECHS: NYMEX HO: (V18) Bearish Reversal Potential
*RES 4: $2.6000 - Bull channel top 
*RES 3: $2.5000 - Resistance 
*RES 2: $2.4000 - Measured move from bull flag breakout 
*RES 1: $2.3000 - Resistance 
*PRICE: $2.2506 @ 06:17 GMT 
*SUP 1: $2.1893 - High Jul 27 
*SUP 2: $2.1453 - High Aug 21 
*SUP 3: $2.0823 - Low Aug 15 
*SUP 4: $2.0574 - Low July 18 
The weak close in Nymex Heating Oil yesterday may be warning of a bearish
reversal given the failure to close above the $2.30 level. A close above this
level would be needed to target the bull flag breakout target at $2.4000. On the
downside, bears need to push back below the August 21 high to shift the outlook
bearish in the short term.

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