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Dec 02

TECHNICAL ANALYSIS BY NSFX 02.12.2013

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High:  Low: 

The commodity is down 20$ from the 2013 top at 112 and after the 21SMA worked well as resistance last week is likely that the distribution pattern has not finished yet. The next support area is at 91.2 then at 89.39. The intermediate target of the correction could be the 2013 low at 85.55. If Crude Oil should rally the first test would be at 93.83 and above it the 200SMA in area 99.

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