Gold - prices nearing Leg C of Cypher
Gold clocked a high of $1371 levels in Asia and continue to trade near 11370/OZ levels, which is few points short of $1378 (point C of Cypher). The 38.2% Fibo retracement of the move from 2011 high - 2015 low stands at $1380.
Failure to take out $1378 - 1380 could trigger profit taking. A break higher on day end closing basis would open doors for a sustained move above 1400/Oz.
Failure to take out $1378 - 1380 could trigger profit taking. A break higher on day end closing basis would open doors for a sustained move above 1400/Oz.
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