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Dec 27

TECHNICAL ANALYSIS BY NSFX 27.12.2013

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The shiny metal is on its third consecutive positive trading day and the only thing that needs to accelerate its rally is a another positive trading session that will change market sentiment. Next resistance area 1,261 $/ounce and the supply line in area 1,300. In case the rally should fail it below 1,181 selling pressure could bring the metal to test 1,100 in a short time frame, considering that Gold is in a bear market.

R3
R2
R1
S1
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S3