Gold needs to stay above 1319

Although the selling of gold has repeatedly stalled around the $1200 level over the past 12 months, the break above 1319.50 should confirm a bullish outlook this week, says Max Knudsen of ADS Securities.  Past this level, the targets are $1361 and then $1400 and $1438, a 50% retracement of 2013 losses. Should prices fall back below 1319 this week, this would indicate sentiment remains depressed.

Max gold