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Aug 02

TECHNICAL ANALYSIS BY NSFX 02.08.2015

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The weekly chart of Crude Oil shows that the commodity is quite near the lower side of the long term trading range. Crude Oil is also oversold and if the commodity will rebound it might test area 56 then 62, the higher side of the range. A breakout above this level is likely to lift the commodity to test area 66. Below 44 Crude Oil can slide to test area 34, a level traded in 2008-2009 during the global financial crisis, and then to 30.

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