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Sep 13

TECHNICAL ANALYSIS BY NSFX 13.09.2013

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Crude oil in yesterday trading session closed at resistance level 108.77. Today likely to see or a breakout above that level or a retracement below the 21SMA .  The first target for long positions would be 110.52 and then 112.23. If selling pression should increase then first support in area 105.51, a coincidence of both a static support and 55EMA.  The support in area 102.25 could keep the commodity in a balanced trading range.

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