The rally from intra day low of 5.47 approx. (couple weeks back) was 1.10 approx. to a high of 6.57 two days ago.
Retracement levels:
50% is 6.02-05 (which looks to have failed)
61.80% is 5.90 - 95 which has not been broken yet.
78.6% is 5.70
If breaks 5.70 target would be 5.50.
This is a crude analysis as it depends on the Gold price. As I have not looked at momentum indicators today in this stock or gold itself.
I think Alpha was talking $315 short term for Gold. That would suggest that 5.70 target or lower is more likely.
noip
Just watching.
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