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Sep 30

TECHNICAL ANALYSIS BY NSFX 30.09.2013

By:

High:  Low: 

Gold has developed a trendline  and now is trading just below both the 21SMA and the 55EMA in area 1350.  A rise above that level will probably give the pair energy to test  1410 area.  The 200SMA in area  1469.75 is the intermediate target in case of a bullish scenario.  In case the shiny metal should drop 1291 area and then  1200 will be likely the support.

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