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Oct 24

TECHNICAL ANALYSIS BY NSFX 24.10.2013

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High:  Low: 

Crude oil after three consecutive  negative  session is trading in a narrow range. Likely a pullback in area 98.62 to test whether the price pattern could be a trading range or the beginning of a bear market for the commodity. Above 100.45 buyers will be in control again because many stop losses would be triggered.  If the downtrend should continue then area 94.78 and 91.3 will be key level to assess the magnitude of the bear market that started the 28th of August.

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