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Aug 06

TECHNICAL ANALYSIS BY NSFX 06.08.2013

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Gold is struggling against the daily 55 exponential moving average that is acting as a dynamic resistance but the rally cannot be considered finished because the trendline has not  been broken yet on confirmation. For daytraders area 1293 is considered a buy point but for traders with longer time frame likely they will act only if a consistent buying activitity will make the price to breakout area 1353. Buyers activity will appear  even above 1332 if the dynamic resistance will be broken. If  Gold will break the rally area 1260 and 1247 will be price level where selling pressure will concentrate.

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