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Aug 08

TECHNICAL ANALYSIS BY NSFX 08.08.2013

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One consideration  might be useful:  there is an absolute top tested several times, there was a climax candle yesterday that  shows  buyers activity and yesterday bottom still above previous bottoms.  Not impossible thus to reach a new top. But it is necessary to  regain 1700 and thus  breakout level 1709.6. Target price above this level:  area 1740-45. If market forces decide for a bearish conditions then  supports are in area 1684, 1675 and then area 1660 where the 200 SMA on the 4 hours time frame will attract new buyers.

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