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NYMEX HO: (Z17) Bears Need Close Below....>

OIL TECHS
OIL TECHS: NYMEX HO: (Z17) Bears Need Close Below $1.9018
*RES 4: $1.9998 - High May 21 2015
*RES 3: $1.9931 - Daily Bull channel top
*RES 2: $1.9631 - High May 29 2015
*RES 1: $1.9527 - 2017 High Nov 9
*PRICE: $1.9446 @ 0430GMT
*SUP 1: $1.9388 - Hourly support Nov 9
*SUP 2: $1.9136 - Low Nov 9
*SUP 3: $1.9018 - Hourly support Nov 6a
*SUP 4: $1.8802 - Hourly resistance Nov 1 now support
*COMMENTARY: The close above $1.9033 saw bullish focus shift to the daily bull
channel top. O/B daily studies looking to correct lower and the Bollinger top
($1.94636) remain key concerns and increase correction risk. In saying that,
support layers remain with bears still needing a close below $1.9018 to confirm
an easing of bullish pressure and hint at a correction back to $1.8301-1.8561
where the 21-DMA is located.

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