24.09.2013 - Commodities to extend loss on moving average: Technical Analysis
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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