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NYMEX HO (V19): Arrives at trendline......>

OIL TECHS
OIL TECHS: NYMEX HO (V19): Arrives at trendline resistance
*RES 4: $1.9648 - High Aug1
*RES 3: $1.9193 - High Aug 2
*RES 2: $1.9011 - Trendline resistance drawn off the May 16 high and key
resistance
*RES 1: $1.8951 - Intraday high
*PRICE: $1.8880 @ 06:51 BST Sep 5
*SUP 1: $1.8006 - Low Sep 4
*SUP 2: $1.7770 - Low Aug 3
*SUP 3: $1.7636 - Low Aug 8
*SUP 4: $1.7515 - Low Aug 7 and bear trigger
HO reversed higher yesterday and is now trading back at the key band of
resistance between $1.8787 - $1.8905 highlighted by the 50-day EMA and the Aug
13/21 highs. 1.8905 has been probed overnight and the focus turns to trendline
resistance drawn off the May 16 high that intersects at $1.9011 today. A break
would represent an important bullish development.

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