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Sep 18

TECHNICAL ANALYSIS BY NSFX 18.09.2013

By:admin

High:  Low: 

The precious metal continues on the offer, pushing below the 50% Fibo retracement in the Jun-Sep wave at 1307. Current bids have been spotted below 1300, and oscillators are biased towards being overbought, but not confirming each other. The bearish action should be extended with a close below the 50% level opening up for a test of August lows at 1272. For a bullish mood, the pair needs to close above the 50- and 100-day SMAs, currently at 1341 and 1350, respectively.

R3
R2
R1
S1
S2
S3