Gold - Revisit to previous day's high likely
Despite Wednesday's sell-off to a low of $1264.40, the subsequent rebound in the Asian session today in the wake of upward sloping 5-DMA and 10-DMA suggests prices could revisit previous day's high of 11276/OZ levels.
On the downside, only a break below the 10-DMA level of $1263 would expose $1253 (38.2% of 2011 high - 2015 low).
On the downside, only a break below the 10-DMA level of $1263 would expose $1253 (38.2% of 2011 high - 2015 low).
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