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Dec 02

TECHNICAL ANALYSIS BY NSFX 02.12.2013

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The index is consolidating  the gains made and is trading in a narrow range. Statistically when there is a trading range after an uptrend the probability of the continuation of the trend is higher.  In case of a breakout on the upside 1850 can be seen as a target, but before it needs to rise above the range at 1811 and  then pass1823 area. If a retracement should occur below 1800 the S&P500 will likely test 1787. Below this area there is the 55EMA at 1750.7

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