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Jul 25

TECHNICAL ANALYSIS BY NSFX 25.07.2013

By:Nati

High:  Low: 

A wedge formation with decreasing range sees a Fibonacci drawn from the high in mid May to the low in July, a recent retracement from the low bounced off the 38.2% level and the support could be offered at the 23.6% area which coincides with S1 on the pivots in the 1.4333 area. Break of this level could retest the supporting trendline in the longer term. The 100 day SMA and the 38.2% Fibo level have seen recent offers at that level over the last few days.

R3
R2
R1
S1
S2
S3