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Sep 25

TECHNICAL ANALYSIS BY NSFX 25.09.2013

By:admin

High:  Low: 

The index printed new highs on Wednesday after the FOMC, but has not managed to sustain the bullish momentum and the battle is currently being fought around the psychological 1700-level. Support at the 38.2% Fibonacci retracement level in the recent short term wave at 1693 and below here, the 50-day SMA at 1680. We have not yet closed the gap from mid September, but the market will most likely test the bidding strength. Short term oscillators oversold, which could cap selling interest.

R3
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R1
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