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May 16

TECHNICAL ANALYSIS BY NSFX 16.05.2014

By:

High:  Low: 

The index found resistance against the 55EMA and it might have a short term rally to 1880. Above 1900 many stop losses would be triggered and thus the index might reach 1920 in a short time window.  Below the lower band of the channel that was generated last summer the index should test the last significant support, the 200SMA, before investors might start to talk about a correction.

R3
R2
R1
S1
S2
S3