Gold price drop fast due to the Japan Nuclear crisis and rebound from the support area. There may still be one more drop before bullish reversal. The MA just crossed below showing further bearish sentiment. THe price now is retracing up. The resistance area is at 1404 and 1430 while support level remain at 1380 and 1350.
The daily chart show that gold price just broke below the 21MA. The price is now retraceing up to test the resistance of 1404.
By The Backyard Burner
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