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Oct 01

TECHNICAL ANALYSIS BY NSFX 01.10.2013

By:admin

High:  Low: 

Cable enjoying fifth bullish week so far with the pair putting distance to the 23.6% long-term Fibonacci retracement at 1.6156 in the wave from 2010 lows to 2011 highs. Should we close above, this will give scope for a move to the quadruple top from 2012 around 1.6310. Oscillators are in overbought territory, but the bullish trend is very strong. Should we see clear divergence, then a reversal could take place, but so far it is still a buy on dips setup.

R3
R2
R1
S1
S2
S3