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Dec 07

TECHNICAL ANALYSIS BY NSFX 07.12.2014

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Gold is trading 70$ below its 200SMA, a level that could be tested in few trading session, considering also the bullish candle made last monday. The metal is making higher lows thus is developing an uptrend, and formed a symmetrical triangle as well. Below 1156 the shiny metal should test again its 2014 low in area 1130 and below  this level it should slide to 1040-1050. Above 1224 is likely a test of 1260 and then 1320.

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