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May 24

TECHNICAL ANALYSIS BY NSFX 24.05.2015

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The shiny metal is trading in a short term bullish channel and all the most relevant moving averages are close to current market price. Gold is struggling to rise above its 200SMA and if it will make a breakout of the higher side of the channel the commodity can reach 1320 area. Below 1182 is likely a test of the 2015 low 1142. The RSI indicator, now at 52, does not provide any help.

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