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Jan 18

TECHNICAL ANALYSIS BY NSFX 18.01.2015

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After the metal went above its 200SMA the commodity made a breakout of its medium term supply line at 1265 and now  there is a moving average crossover of its 21SMA with the55EMA. This triple bullish signal might bring momentum and Gold can test 1300. Above this level shiny metal can test the spike at 1346 and then area 1390-1400. In case the commodity should retrace the first relevant support is at  1234, then area 1200. Below 1160 the framework should turn negative again.

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