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Apr 20

TECHNICAL ANALYSIS BY NSFX 20.04.2014

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Gold closed the trading weel below its 200SMA and probably will test 1279.11 area where short term traders will buy on the support. In case selling pressure will increase  the commodity can slide to 1236. The target of an intermediate bearish scenario would be the double bottom in area 1181. Above 1330 short positions stop losses would be triggered and the shiny metal might rise to 1360.  In a long term time frame Gold is trading in the middle of the range 1181-1432.

R3
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R1
S1
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S3