/ 

Aug 08

TECHNICAL ANALYSIS BY NSFX 08.08.2013

By:

High:  Low: 

Crude oil went out from the ascending trend line but now is struggling to go above it again. Selling pression just below 105, then resistence from both 21 SMA and 55 EMA in area 105.35 on the 4 hours time frame.  Then 105.70 should be the point where the descending trend line is going to be tested.  If price falls again under the bullish trendline level those are the closest support levels:  104, 103.27 and 102.68.

R3
R2
R1
S1
S2
S3