TECHNICAL ANALYSIS BY NSFX 25.07.2015
The commodity went below its multiyear low 1,133 with a huge bearish candle and now the shiny metal is in oversold territory. Below 1,070 Gold might reach 1,060 and then 1,000. A pullback is likely because last Friday the commodity made bullish spike. In case the shiny metal will rise above 1,133 it might test the 55EMA at 1,164 and then the 200SMA, now at 1,196. The RSI (14) is below 30 and the ATR (14) is much below its 2015, thus volatility might increase.