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Aug 13

TECHNICAL ANALYSIS BY NSFX 13.08.2013

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There is a positive thing in the USA500: it did not test area 1675 before to bounce to the upside, that it means that buyers had the willingness to buy even at higher price.  There is a supply line in area 1698, a breakout of that dynamic resistance likely will bring price above 1700 to test the top at 1709.6. The 200 SMA and the lowest line of the trading range are nearly at the same price level, 1675. Below that support a short term selloff can push the price to 1650.

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