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NYMEX HO (V19): Attempting trendline......>

OIL TECHS
MNI (London)
OIL TECHS: NYMEX HO (V19): Attempting trendline break
*RES 4: $2.0000 - Round number resistance 
*RES 3: $1.9813 - High Jul 31
*RES 2: $1.9648 - High Aug 1
*RES 1: $1.9206 - High Sep 5
*PRICE: $1.8892 @ 06:55 BST Sep 6
*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 rallied again yesterday but was unable to hold onto the days high. Prices did
breach trendline resistance at $1.9011, drawn off the May 16 high. While this is
bullish, a bearish candle formation was also confirmed at the days close, in the
shape of a shooting star. This highlights the importance of yesterday's $1.9206
high. A break would see bulls gain the upper hand and open $1.9648. A return
lower though would refocus attention on $1.7770. 

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