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Aug 05

TECHNICAL ANALYSIS BY NSFX 05.08.2013

By:Nati

High:  Low: 

Following the chart uptrend since September 2011 a high was reached in May of this year, and the Fibonacci is drawn from those points. Sell off occurred following retest of the high in May, and the Fibo level held as support. Today sees the 50 day and 100 day SMAs converging. We could see a consolidating period with support drawn with a trend-line drawn through mid April's low and the low point for June. A close below this would see a reversal of trend.

R3
R2
R1
S1
S2
S3