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Oct 16

TECHNICAL ANALYSIS BY NSFX 16.10.2013

By:Nati

High:  Low: 

Consolidating in a wedge pattern using the 50 day SMA as an area of support at 98.38 today. On the daily chart, the cloud is showing a bullish signal with the Senkan Span A currently above the Senkan Span B, and if the price breaks above the cloud formation at 98.65. The 99 figure may be an interesting area of resistance going forward.  Beyond that level, stops may be found in the 99.45-65 area approaching the trend-line drawn through the highs on the 22nd of May and the 11th of September.

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R1
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