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Nov 06

TECHNICAL ANALYSIS BY NSFX 06.11.2013

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Even today the shiny metal could not go above the 21SMA and today is trading in a narrow range of 7 dollars.  If the short term downtrend should continue the first test is the psychological level 1300 $/ounce and then the dynamic trendline in area 1270. Below this level , a failed test of increasing tops, the commodity could increase its speed to dive into 1180 area again. If buyers will try to be in control  area 1330 first and then 1360 double top have to be won. The 200SMA at 1412 could be considered the most important  target price to assess the dynamic of the trend.

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