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Aug 19

TECHNICAL ANALYSIS BY NSFX 19.08.2013

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The candle with a big shadow that market activity has generated last Friday can be considered like a top that  bounced back crudeo oil from the higher band of the range.  Now only a consolidated  breakout  above 108.72 or a long entry  during a retracement in area 105.28 could make buyers in control again. Below 106.34 and 105.18 price could test area 102.70. ATR value is 0.6 on the 4hours time frame and is trending higher thus expect increased intraday volatility.

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