TECHNICAL ANALYSIS BY NSFX 30.03.2014
Gold last week dropped both below the demand line generated the last trading day of December and its 200SMA. The fact that it failed to rise above the average after a test could mean that the shiny metal might drop again. Psychological area 1300 was also broken and next support could be 1274 and then 1230. Below 1184 the commodity could be considered in bear market again. In buyers will lift the metal it has to win area 1300 and then the pullback of the demand line could be a valid resistance. 1386 should be a valid target in case of a rally.