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Feb 25

TECHNICAL ANALYSIS BY NSFX 25.02.2014

By:admin

High:  Low: 

The index has sustained above the 50-day SMA, but has not yet managed a close above the key resistance level at 1851.5, though testing higher yesterday, touching 1859.5. Should we close above the 1850-area, then there is scope for a move towards 1870 and then 1885 using fibo projections in the recent wave in 2014. Downside, the 50-day SMA should be observed ahead of the 100-day SMA and trend support projected from June 2013.

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