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Oct 18

TECHNICAL ANALYSIS BY NSFX 18.10.2013

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Crude oil is off 11 dollars from 28th August top at 112.2. The support in area 101 seems broken and now the next target should be the 200SMA in area 98.72. This level is very important because below it price could dive to 93 in absence of intermediate support areas. If buyers will get in control of the commodity the first resistance is in area 102.27. Only a breakout of the supply line will give power to crude oil to be projected in area 108.

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