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Jan 08

TECHNICAL ANALYSIS BY NSFX 08.01.2014

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High:  Low: 

The shiny metal retraced from the static resistance in area 1250 and found support on the 21SMA.  A breakout above the supply line generated the end of August can lift price to test the 200SMA that now is at 1336. If Gold should drop below 1181 another bearish selloff will likely occur and many new shorts positions will be opened and closed stop losses of  short term bullish as well.

 

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R1
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