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Sep 20

TECHNICAL ANALYSIS BY NSFX 20.09.2013

By:admin

High:  Low: 

Wednesday's move sent the precious metal back above the 50- and 100-day SMAs with price action capped at the 23.6% Fibo retracement in the wave from July to August at 1373.60-area. 4h-chart has seen the 100-period SMA acting as resistance skewing price action towards further bearishness. We could see bids enter at the 100- and 50- day SMAs at 1349 and 1345, respectively.

R3
R2
R1
S1
S2
S3