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Aug 26

TECHNICAL ANALYSIS BY NSFX 26.08.2013

By:Nati

High:  Low: 

Last Friday saw a test of the 100%  Fibonacci level drawn on the chart, although failing to close above. Resistance for the day could still be seen at the Fibonacci level, and beyond that an area around last week's high of 154.65 could be interesting. Support in the 153 figure area. We could see consolidation in the range from recent highs and last weeks low for the week. A close below the 100 day SMA area support could signal a break out of the consolidation on the downside, whereas a close above last week's high could see a continuation of the up-trend.

R3
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R1
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