/ 

Aug 28

TECHNICAL ANALYSIS BY NSFX 28.08.2013

By:

High:  Low: 

Crude Oil breakout on the upside of the channel and trading at 111.38 and now the next test is in area 114. If the buyers pressure is not going to be very strong likely to see a pullback in area 118.19. If speculators and commercial will build more long positions the commodity would likely reach 120 and then 129. Only a retracement to the lower half part of the channel could trigger stop losses and activate short sellers orders.

R3
R2
R1
S1
S2
S3