/ 

Aug 21

TECHNICAL ANALYSIS BY NSFX 21.08.2013

By:

High:  Low: 

Gold during the last trading session even recovered from the losses could now test area 1340, a consolidation pattern after the rally. Even a retracement to area 1300 to test the lower band of the channel would not change the bullish sentiment for the shiny metal.  Price could accelerate to the 2013 bottom only if 1272  level will be broken.  If price will go above the upper band of the channel an acceleration in a short time frame to test both the 200 SMA and the supply line in area 1500 might occur.

R3
R2
R1
S1
S2
S3