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Oct 29

TECHNICAL ANALYSIS BY NSFX 29.10.2013

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Crude oil found resistance against the 200SMA and now the commodity is trading in a range 98.8-97. If a breakout should occur then the next resistance level would be 100.65, a coincidence of both static and dynamic resistance. Buyers will be in control again above 104.45. In case crude oil should retrace below area 96 many stop losses will be triggered and the commodity should test 93.6

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