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Sep 11

TECHNICAL ANALYSIS BY NSFX 11.09.2013

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Gold found support on both the lower band of the channel and the 55EMA in area 1355. In case the metal should continue the uptrend level 1500 is the most important target because above that area market participants can assess whether the move from 1172 to that area could be a bear market rally or the beginning of a new trend. In case price should retrace  below 1272 selling pressure would accelerate volatility.

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