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Aug 27

TECHNICAL ANALYSIS BY NSFX 27.08.2013

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From a technical point of view nothing has changed compared to the last trading week. USOIL has an instrinsic positive skew. It means that has much more higher probability than other asset classes to have a sudden spike up of prices. Above 108.72 buyers will likely adopt herding behaviour and crude oil might reach 114, but geopolitical uncertainty could force commercial buyers and not only speculators to increase their long positions and thus oil might reach 120. Just below 102.64 sellers can be in control of the commodity.

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