TECHNICAL ANALYSIS BY NSFX 23.08.2015
The commodity found resistance against the supply line that links lower highs generated last January. A breakout of this dynamic resistance can lift Gold to 1228: in this scenario the bear market will be ended and market sentiment should turn neutral or positive. Significant trading activity will be found also in area 1305. Below 1132 Gold should test again its multiyear low 1078 and beneath this level area 1040. The RSI indicator at 73.27 says that the shiny metal is overbought.