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Jul 27

TECHNICAL ANALYSIS BY NSFX 27.07.2014

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High:  Low: 

The shiny metal last week traded below 1300 but then found support on the 200SMA, that at the moment has a slightly positive slope, and rebounded. The commodity might test 1320 and then test the supply line that links lower highs generated last summer. A breakout might lift gold to 1431. Below the demand line that was generated on December selling pressure might increase and another test of the multiple bottom in area 1182 seems likely.

R3
R2
R1
S1
S2
S3