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Apr 03

TECHNICAL ANALYSIS BY NSFX 03.04.2013

By:admin

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Long term oil prices have been seen to be consolidating within the triangle pattern drawn from the highs, just before the crisis in 2008, and the lows later in the same year. This is drawn on a monthly chart. There is some recent resistance in the area around 100 dollars a barrel, if this was your conclusion, it could lead to a continuation of the uptrend should we see a price break above the 100 dollars a barrel.

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