GCJ11 – April Gold (Last:1398.50)

Monday’s impressive run-up all but clinched the case for a test over the near term of the 1434.10 all-time high recorded in December. More immediately, night owls can try bottom-fishing at 1400.50, stop 1399.90. That’s the ‘d’ target of a minor correction derived from the pattern shown in the chart. _______UPDATE (3:14 a.m. EST):  We were stopped out for a theoretical loss of $60 when the 1400.50 pivot evinced no support whatsoever. This implies more weakness ahead to a minimum 1396.20, a Hidden Pivot that can be bottom-fished with a three-tick stop-loss.