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Aug 23

TECHNICAL ANALYSIS BY NSFX 23.08.2013

By:

High:  Low: 

Crude oil still trading between the 21SMA daily as a resistance and the 55EMA as a support.  At  102.64  level both the 55EMA and the lower band of the channel are considered a strong support.  Below that level price could drop with a different pace and test 99.40 area.  Only above 105.75 area, triggered stop losses and breakout traders can lift the price to test 2013 highs at 108.72

R3
R2
R1
S1
S2
S3