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OIL TECHS: NYMEX HO (Z19): Focus Remains On $1.9799 Resistance
*RES 4: $1.9833 - 61.8% retracement of Sep 17 - Oct 3 low
*RES 3: $1.9799 - High Oct 24 and key near-term resistance
*RES 2: $1.9689 - High Nov 6
*RES 1: $1.9612 - High Nov 15
*PRICE: $1.9002 @ 07:24 GMT Nov 19
*SUP 1: $1.8680 - Low Nov 13
*SUP 2: $1.8594/88 - Low Oct 31/ Low Oct 8
*SUP 3: $1.8151 - Low Oct 3 and primary support
*SUP 4: $1.7825 - Low Sep 3
A strong rebound on Nov 1 in HO saw a bullish a focus return however, thus far
there has admittedly been no follow through. Attention remains on key resistance
at $1.9799, Oct 24 high. If cleared, this would open $1.9833, 61.8% of Sep 17 -
Oct 3 decline and $2.0138, Sep 19 high. Key support has been defined at $1.8594,
Oct 31 low. A failure to hold above this level would instead highlight a bearish
threat and open $1.8151, Oct 3 low.