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Jul 30

TECHNICAL ANALYSIS BY NSFX 30.07.2013

By:admin

High:  Low: 

A wedge consolidation pattern drawn with support from February this year has formed, although it seems an overall downward trend channel is the overall theme since July of last year. It will be interesting to see it the support holds and we can then possibly see a move upward towards a possible test of resistance at around the 1.43 area. However breaking below the support area 1.419-1.42 we can see a continuation of the bear trend, with a possibility to range trade the trend channel.

R3
R2
R1
S1
S2
S3