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May 16

TECHNICAL ANALYSIS BY NSFX 16.05.2014

By:

High:  Low: 

Gold could not rise above the higher side of the symmetric triangle. All relevant moving averages are flat and there is a compression of volatility. A bearish wave could lead to test the double bottom at 1182 and if buyers should lift the metal it might test  1330 and then the 2014 top at 1387.

R3
R2
R1
S1
S2
S3