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Oct 04

TECHNICAL ANALYSIS BY NSFX 04.10.2015

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The commodity did not violate the symmetrical triangle price pattern, and now is close tho the higher side. A breakout can lift the shiny metal above its 200SMA, and then test the price spike at 1220. In case Gold will rise above this level market sentiment should turn long term positive. Below the lower side of the triangle, the commodity should test 1076.55, that is the multiyear low of this bearish market. Beneath this level Gold can slide to 1000 in a short time window.

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