TECHNICAL ANALYSIS BY NSFX 02.05.2014
Third consecutive negative day for the shiny metal. It trades below all the relevant moving averages and the supply line generated at 1387 was a valid resistance . The test at 1266 might lift the price for a short rally and below this level the commodity could test 1238 and then 1183.1 double bottom. Above the supply line the commodity should test 1330 and then price projection suggest that Gold might rally to 1373.