TECHNICAL ANALYSIS BY NSFX 01.03.2015
The short term analysis for Gold is very bullish. The shiny metal not only made a double spike below 12oo but tested successfully as well the medium term demand line that links higher lows. The commodity left also the oversold area in the RSI indicator. Next test the 200SMA at 1240 and then the medium term supply line in area 1300. In case Gold will trade below its multiyear low 113o the first relevant support would be 1080.