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May 24

TECHNICAL ANALYSIS BY NSFX 24.05.2015

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The commodity successfully tested the lower side of the bullish channel and might test its 200SMA, now at 64.25. Volatility has decreased, and the ATR level is typical of positive momentum trading.  A breakout above the higher side of the channel can lift Crude Oil to area 78.  However,the long term framework still negative and below 54.8 selling orders will  be triggered and another bearish wave might occur.

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