/ 

Aug 07

TECHNICAL ANALYSIS BY NSFX 07.08.2013

By:

High:  Low: 

The west texas intermediate failed to retest  area 108.71, the only price level that if breached can attract medium term buyers in the market. Other resistance before the double top are area 105.76, where both spikes price and 21 period simple moving average are fighting against short term buyers.  Aggressive buyers will attempt to anticipate a strong breakout of the double top by building long position at 107.40. Important support level are at 102.65, where if broken price might fall to test the bullish trendline at area 98.45 and then, if only the overall risk appetite in global markets deteriorates the target of bearish operator is around 93, the test of the 200 period daily simple moving average.

R3
R2
R1
S1
S2
S3