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Feb 06

TECHNICAL ANALYSIS BY NSFX 06.02.2014

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High:  Low: 

The commodity yesterday retraced from the 1275 resistance. A breakout above this level can lift the price to 1312 and then to 1361. If Gold should drop below 1245 selling pressure would accelerate because the breakout of the supply line would be considered a fake one and with price below both the 21SMA and the 55EMA short sellers will likely place orders.

R3
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R1
S1
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S3