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Mar 13

TECHNICAL ANALYSIS BY NSFX 13.03.2016

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The commodity made a breakout of the medium term supply line and can test the 200SMA in area 46.2 and then area 50. The price projection in a bullish scenario is 56, the current price level plus the highest distance between price and supply line. Beneath 35.5 UK Brent may test the short term demand line and below this level it may reach the 2016 low at 27.

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