Wednesday, April 11, 2012
11 | Daily
DAILY - Gold broke 1647 (50% Fibonacci - weekly range) but faced the down trend line as the neck line of Bullish Butterfly harmonic pattern at around 1662. This would be the confirmation of the up movement, but some consolidation would be seen before it breaks that level and continue the uptrend.
If it fails to breach, then gold potentially flip back to the down side and testing yesterday Low around 1631 or even last week Low 1611.
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