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Sep 03

TECHNICAL ANALYSIS BY NSFX 03.09.2013

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High:  Low: 

Gold now is trading below 1400 and is on the middle of the trading range. Likely the next test during this retracement would be 1362 area where both 21SMA and 55EMA work as a support. Only below 1330 selling pressure would accelerate.  Until the price trade inside the channel the trend will have a pace. If a breakout on the upside should happen price then will change speed and in a short time frame will have a triple test on the same area:  1500 psychological level, the dynamic supply line that links the descending tops from  October 2012 and the 200SMA.

R3
R2
R1
S1
S2
S3