Thursday, 23 February 2012

Spot Gold - XauUsd

Gold is creeping toward the target zone located in between 1793.50 ( AB = CD) and 1802.50 ( 100.0% Fib retracement after a 100% retrace lower).

Given the large volume of 1800 expiries that are said to be rolling off tonight price should hover around that level until expiries are done.

As the chart looks very bullish I would be maintaining longs looking for an exhaustive run higher into 1839 first.


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