April Gold (972.60)

Ten hours of trying failed to knock gold down more than a couple of bucks after Tuesday’s sharp surge. As of midnight EST, the futures were working on a minor rally target at 981.60, but it held little value for trading purposes. Another Hidden Pivot at 995.10 promised one last show of resistance before $1,000, but it too is not a place where bears should contemplate taking an aggressive stand. The futures need only achieve 991.50 to refresh the bullish impulse on the daily chart and set up JP Morgan & Friends for the haymaker.