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Aug 06

TECHNICAL ANALYSIS BY NSFX 06.08.2013

By:Nati

High:  Low: 

Since April and and through May where resistance in the 156.50 area was met we seem to have found a consolidating wedge formation. A wide range of 10 big figures from high to low, and some interpretations could see the supporting trend-line as a neckline of a head and shoulders pattern. The 50 day and 100 day SMAs are converging and the price is hovering between them at the moment, although we tested support below at 150.30 which has held for the past three trading days. Resistance at the 151.50 area has also been strong in recent days.

R3
R2
R1
S1
S2
S3