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Jun 21

TECHNICAL ANALYSIS BY NSFX 21.06.2015

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High:  Low: 

The commodity narrowed its trading range and could not rise above its 200SMA but the 21SMA worked well as a dynamic support. The 3 month range 62.5-56.55 could be broken soon because volatility is cyclical,and it will trigger a pattern like a spring when it unleashes its energy.  The RSI indicator at 49, matches the concept that the commodity is trendless. A breakout  either above or below the 3 months range could move the price around 8 dollars from the sides of the range.

R3
R2
R1
S1
S2
S3