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NYMEX HO (Z19): Rebound Likely To.........>

OIL TECHS
OIL TECHS: NYMEX HO (Z19): Rebound Likely To Extend
*RES 4: $2.0138 - High Sep 19
*RES 3: $1.9833 - 61.8% retracement of Sep 17 - Oct 3 low
*RES 2: $1.9799 - High Oct 24 and key near-term resistance
*RES 1: $1.9644 - High Nov 4
*PRICE: $1.9461 @ 08:02 GMT Nov 5
*SUP 1: $1.8594/88 - Low Oct 31/ Low Oct 8
*SUP 2: $1.8151 - Low Oct 3 and primary support
*SUP 3: $1.7825 - Low Sep 3
*SUP 4: 1.7580 - Low Aug 7
A strong rebound Friday in HO sees a bullish focus return with attention on this
week's 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 onto current levels
and a breach of the support would highlight a bearish threat and instead open
key support at $1.8151, Oct 3 low. For now the focus is on gains.

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