GCM09 – Comex June Gold (Last:922.80)

gold-thrust-exceedingA midpoint support at 907.60 that comes from the daily chart (A=1009.80)  should be used as a minimum downside target for now, but if it’s decisively breached expect the downtrend to continue to at least 896.90. Alternatively, we should ask nothing less than a pop to 957.60 before we infer that the $80 thrust in mid-March is about to fulfill its 995.40 potential.