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Mar 06

TECHNICAL ANALYSIS BY NSFX 06.03.2016

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The commodity made a breakout of the medium term supply line and may test soon area 43.8. Above this static resistance the commodity could rise to area 46.5 and then test another static resistance in area 48.1.  Beneath 35.8 Brent may test the bullish trendline generated from its 2016 low and then below this dynamic support it could test again area 27.  The daily RSI (14) at 64.54 is nearly overbought.

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