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Oct 23

TECHNICAL ANALYSIS BY NSFX 23.10.2013

By:

High:  Low: 

The shiny metal today is retracing after yesterday breakout of the 55EMA.  If this positive trend that started the 15th of October should continue the first resistance area would be at 1375.  The intermediate target likely is 100$ above current market price and is a double resistance: one is the peak reached the 28th of August and the other is the dynamic 200SMA. In case the commodity should retrace 1310 area first, and then 1252 would be the most likely support level.

R3
R2
R1
S1
S2
S3