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Aug 22

TECHNICAL ANALYSIS BY NSFX 22.08.2013

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There is less than 1$ distance between the support that was created in July and August and current market price. The ATR spiked up and volatility  is rising across all risky assets. At 102.64  there will be a battle between traders with different time horizon. The intermediate target price for bearish traders could be in area 98.49 and then the test of the 200 SMA daily in area 95.  Excluding short term traders that likely will take decision at the lower band of the range, Crude oil market sentiment could turn positive  above the middle of the channel in area 105.55, same level of the 21SMA.

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