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Aug 20

TECHNICAL ANALYSIS BY NSFX 20.08.2013

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The German index is 300 points off the top reached in the end of May. This mean that the demand line in area 8000 is a very likely intermediate target price: it would be a correction of less than 10%, a normal market retracement.  Below area 8000 then the market could accelerate to 7700 area but it might happen if volatility explodes to the upside and risk reversal trades will take place on a big scale. Only a breakout above 8456 will bring buyers keen to test again 8525.

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