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Oct 11

TECHNICAL ANALYSIS BY NSFX 11.10.2013

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Gold yesterday bounced from the static short term support at 1281.91 and today is trading not far from that level. In case buyers will be in control the first target would be the supply line in area 1311.75. Above that level there is another dynamic resistance in area 1337.5. In case selling forces should continue to keep the shiny metal on bearish environment likely to see a test at 1270. Below that level 1200 level could be the next significant support.

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