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Aug 17

TECHNICAL ANALYSIS BY NSFX 17.08.2014

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High:  Low: 

Gold still trading inside the simmetrical triangle and with a longer time frame is logical to assume that the metal might continue to drop after a decrease in volatility. With a shorter timeframe, however, the commodity found support on the 200SMA and might test soon the higher side of the triangle. A breakout might  can bring the price to test 1390 and then 1427. If the metal should drop below the lower side of the triangle the first significant support would be 1240 area.

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