Can the support at 1.10 hold?
Sent: Wednesday, May 06, 2015 9:42 AM
Subject: ***************** NOL - back to 1.09 - 1.10 support, may rebound back from here
Subject: ***************** NOL - back to 1.09 - 1.10 support, may rebound back from here
Nol has dipped back down to 1.10 after touching the high of 1.20 last week but failed to break above. Support at 1.09 – 1.10 would serve as a temp support if it were to move upwards again towards the 1.16 then 1.20 resistance level. 20 day ma LINE still sloping upwards and also coincides with the 1.09 level which can lend some support. From the longer term trend, 100 day ma LINE has also crossed above the 200 day MA line positively which shows that trend can possibly reverse. However, note that near term market weakness can see it break below 1.09 which can see it retrace back to 1.05 then 1.00 which were the support in March.
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