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Commodities Briefing - Categorized | Index, Market Moves more

Commodities to extend loss on moving average: Technical Analysis

Posted on 24 September 2013

Commodities measured by the S&P GSCI Total Return Index may extend losses after falling from an 11-month high last month as the gauge nears a 200-day moving average, according to Commerzbank AG.
The index lost more than 5 percent since touching 5,155.80 on Aug. 28, the highest since September last year, after failing to rise above 5,165 and 5,185 on Fibonacci studies, London-based analysts Karen Jones and Axel Rudolph said in a report on Sept. 17. Rudolph confirmed their views remained unchanged today and would only be revised if the index rose above last week’s high of 4,998.70…………………………………..Full Article: Source


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