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Mar 01

TECHNICAL ANALYSIS BY NSFX 01.03.2015

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Crude Oil volatility still high and using a shorter time frame than the daily is possible to spot key areas useful for daytrading. The 1 hour time frame has the RSI indicator nearly overbought and there is a short term trendline that might be tested again.  Above the short term supply line, in area 51.18, the commodity might reach 54.12 and then 55. In case the negative trend of Crude Oil should continue is possible to test the 47.8 spike, and below it 45.

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