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NYMEX HO: (Z18) Rally Remains.............>

OIL TECHS
OIL TECHS: NYMEX HO: (Z18) Rally Remains Corrective For Now
*RES 4: $2.5500 - Channel top 
*RES 3: $2.4534 - High Oct 3 
*RES 2: $2.3627 - Low Oct 8, now resistance 
*RES 1: $2.2826 - 55-dma 
*PRICE: $2.2311 @ 05:35 GMT 
*SUP 1: $2.1403 - 200-dma 
*SUP 2: $2.0871 - Low Aug 15 
*SUP 3: $2.0719 - Low Jul 18 
*SUP 4: $1.9561 - Low Jul Apr 6 
Heating oil futures rose back above the $2.20 level yesterday but the rally
remains corrective below the 55-dma which comes in at $2.2826. A break above
this level would shift the focus back to the upside, re-establishing the bullish
trend and targeting the Oct 3 high at $2.4534. Bears look to target the 200-dma
at $2.1403, below which the Aug 15 low at $2.0871 comes into play.

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