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Sep 03

TECHNICAL ANALYSIS BY NSFX 03.09.2013

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High:  Low: 

Today the index gapped up in the opening and reached yesterday top then retraced and now found support on the 55EMA.  The trading zone is quite critical and given the length of the previous candles is quite unlikely to see a compression of volatility just after 6-7 trading days. Probably the north American session will be the compass for European gauges in absence of idiosyncratic events. Area  8000 as intermediate target still likely.  Risk appetite will come back above 8456 and 8546 because below that level the trading environment is a trading range.

R3
R2
R1
S1
S2
S3