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Aug 13

TECHNICAL ANALYSIS BY NSFX 13.08.2013

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The German index is up nearly 1% and  gapped up from the last trading session. On the 4 hours time frame many  things will depend on the shape of the candle because a long white candle means that the the tops at 8472 and 8525 are ready to be tested. If the candle will have a big shadow from the high it means that a climax pattern is in action and traders might decide to open shorts or simply take profit from the rally that started the 21st of June.  Key support levels are 8209, 8177.

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