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NYMEX HO: (V18) Edging Closer To May......>

OIL TECHS
OIL TECHS: NYMEX HO: (V18) Edging Closer To May Peak
*RES 4: $2.6000 - Bull channel top 
*RES 3: $2.5000 - Resistance 
*RES 2: $2.4000 - Measured move from bull flag breakout 
*RES 1: $2.2988 - High May 22 
*PRICE: $2.2708 @ 05:10 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 rally in Nymex Heating Oil shows little sign of ending with a break above
the May 22 high at $2.2988 within toughing distance. A break above here would
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 neutral again.

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