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Aug 19

TECHNICAL ANALYSIS BY NSFX 19.08.2013

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High:  Low: 

Now the main US gauge is 55 points off the all time high and the slope of the 21 SMA and  55EMA as well are pointing down.  Like many equities indices the bullish trend  still valid but markets look tired and only in area 1630 will be possible to know which trading environment occur.  Important support level in area 1550. Given the low historical value of the ATR and the compression of volatility an acceleration of the correction should be taken in consideration.

R3
R2
R1
S1
S2
S3