TECHNICAL ANALYSIS BY NSFX 03.01.2014
Yesterday drop was one of the most severe in 12 months and the commodity today is trading in a 55 cents range. Now the next bearish test would be the static support at 92.77 and a target of this correction that regained energy after the failed test at 100.67 could be the demand line that was generated in October 2012. In case a rally should occur there are 3 important moving averages that work as dynamic resistance. Above the 200SMA in area 99.28 the commodity could test again 100.67.