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Sep 23

TECHNICAL ANALYSIS BY NSFX 23.09.2013

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Crude oil gapped down below the 55EMA and is trading at 104.61. The commodity retraced 8 dollars from the peak at 112.18 and the next area of support in at 102.25. Only below the 200SMA at 98 crude oil could have a severe correction. If  bullish sentiment should come back  resistance area are at 105.31 first and then 107.6.

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