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Sep 24

TECHNICAL ANALYSIS BY NSFX 24.09.2013

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Crude oil is off nearly 10$ from 2013 top and is trading now near important key levels. The first is the static support in area 103 and then the dynamic demand line in area 102.31. If price should decrease below this level  the test of the 200SMA in area 97.4 will be likely. Both the 21SMA and 55SMA changed their slope and pointing downwards.  A breakout of the supply line that links descending tops from the 28th of August might lift the commodity above 110.

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