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Oct 28

TECHNICAL ANALYSIS BY NSFX 28.10.2013

By:

High:  Low: 

Gold is trading above the 55EMA and  likely will test area 1375.  The intermediate target of this rally is near  1434, the 200SMA. The ATR decreased to the same level seen last time on Sep 2013 and the Parabolic SAR is bullish. In case of a retracement price should test 1330 first and then area 1300. Only below the supply line broken the 17th of October the shiny metal could have a much more severe correction to 1252.

R3
R2
R1
S1
S2
S3