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Dec 16

TECHNICAL ANALYSIS BY NSFX 16.12.2013

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Gold started the week in negative territory and if it should continue to drop the first static resistance is at 1,212.15 $/ounce. Below it there is the market bottom at 1,181 $/ounce. If the shiny metal should break this level many stop losses will be triggered and the bear market will accelerate its momentum.  A breakout above 1,267 $/ounce will lift the metal to test the supply line in area 1,294 $/ounce.

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