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Nov 18

TECHNICAL ANALYSIS BY NSFX 18.11.2013

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Gold is trading not far from the bullish dynamic trendline that was generated the 26th of June. In case this support should fail to keep the price in uptrend the next significant support should be at 1251.3. Below that level the 2013 low at  1180.26. If the price could rise and develop an uptrend (now it cannot be considered technically because there are not higher highs), the first test would be likely at 1317.12.  Above that area the double top at 1361 will be another important resistance level.

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