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Aug 26

TECHNICAL ANALYSIS BY NSFX 26.08.2013

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Crude oil after the breakout of the SMA 21 periods daily is pointing to the ceiling of the trading range at 108.50 area. The 6$ trading channel that started last July sooner or later will be broken and then market forces will bring crude oil to test in case of bullish scenario 114 and then 120. In case price should drop 98.50 and 93 area will be considered key are as support.

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