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Aug 14

TECHNICAL ANALYSIS BY NSFX 14.08.2013

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The main US index is trading below yesterday close but still in the shadow of the candle that can provide entry point for buyers.  Seems that the trading range is getting tighter.  False breakout are part of the trading game but in this situation a breakout  will increase market participation. The Index is consolidating closer to 1700, thus this area is quite accepted by market forces.  Only below 1675, a coincidence of the lower band of the trading range and the 200 SMA moving average on the 4 hours time frame, profit takers and short sellers will concentrate they orders.

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