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Aug 29

TECHNICAL ANALYSIS BY NSFX 29.08.2013

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High:  Low: 

The USA500 found support on the bullish demand line that links ascending low. Using the Elliot wave theory now seems that wave 5 is finished considering that wave 3, the one with the big impact (1693-1634) gave the shape to this pattern. Now likely to see an ABC correction and price could rise very likely to 1656 and only a catalyst could push the US gauge to test 1671.  Below the demand line, next test would be 1600.

R3
R2
R1
S1
S2
S3