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Aug 21

TECHNICAL ANALYSIS BY NSFX 21.08.2013

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Yesterday rebound might look more technical than a comeback of bullish sentiment. Area 8300 is the border between a lateral market with ceiling  8457 and a momentum market with the first support in area 8000. If both the demand line and the 200 SMA will be broken then the long term trend that started on May 2012 can be considered finished. A bullish candle with a closing price above the 21 SMA in area 8342 can bring buyers to test the tops.

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R1
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