April Gold (905.30)

Yesterday’s action was constructive, but the futures will need to close above 918.10 today in order to avoid squandering short-term bulllish potential that could take them to 945.90. That is the target of an uptrend easily visible on the hourly chart, and once it is achieved, a more important target we’ve been using at 952.30 will be in-the-bag. Alternatively, moderate weakness today could be expected to find support at 898.90, but settlement below that price would imply jeopardy thereafter to as low as 886.90. Worst case if sellers should surprise with a show of strength: 878.70.