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Jun 08

TECHNICAL ANALYSIS BY NSFX 08.06.2014

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The commodity is trading in a narrow range between its 21SMA and the 55EMA. This short term volatility compression might work as a spring for a bullish or bearish wave. In the positive scenario Crude Oil might reach the multiple top in area 105.4  ad then might try to reach 108 area. In case selling pressure will bring down the price there is a significant static support in area 100.66 and at the moment the 200SMA is also at that level. Below that area there is 95.34 support.

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