GCJ10 – Comex April Gold (Last:1126.30)

The futures passed up a chance to savage bulls yesterday, bouncing back sharply after having failed to achieve the target of a minor downtrend. That’s bullish as far as it goes, but a decisive confirmation today seems mildly unlikely, since it would require a print exceeding 1148.00.  In the meantime, I’ve sketched out a price pattern that would yield an enticing buy at a midpoint support. Specific numbers would be premature t this point, since the futures were groping for a point ‘C’ high when we went to press around 1 a.m. EST.