GCJ10 – Comex April Gold (Last:1094.50)

The rally in the futures is facing four closely-spaced hurdles just above:  the 1098.40 prior high, the round number of 1100, a hidden pivot at 1102.40, and an “external” prior high at 1106.80.  The most bullish prospect immediately in sight would be a thrust exceeding all of these resistance points without pausing for rest. However, until the first, 1098.40, is touched or surpassed, a downside target mentioned here on Friday at 1057.40 will continue to exert magnetic force. ______ UPDATE (05:54 p.m. EST):  Gold traders on duty in the early morning had a chance to scalp about three dollars out of the pullback from two ticks above the 1102.40 pivot, but afterward the target was surpassed, thus completing the pattern and suggesting more upside to come.  The 1057.40 downside target was negated by the rally.