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Aug 20

TECHNICAL ANALYSIS BY NSFX 20.08.2013

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Crude oil is trading in the middle of the range 108.72-102.64 and is approaching the 200 SMA on the 4 hours time frame in area 105.74, the last significant support before the lower band of the range.  There is a risk reversal process that has involved equities, but FX and commodities have not been included yet in a low speed selloff. Thus if intermarket links should start to work prices drop will affect commodities market as well.  Only above 107 or a bullish candle pattern in area 103 might put buyers in control again. Expected an increase of intraday price swings.

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