GCJ11 – April Gold (Last:1335.00)

April Gold (GCJ11) price chart with targetsA million protestors reportedly were headed into the streets of Cairo Monday night, so perhaps we’ll have an opportunity to see whether Wall Street can fake keeping its cool for yet another day.  April Gold looked moderately buoyant, evidently content for now to glower menacingly at those who would deign to hold it down.  If their collective weight should fail in this objective, look for the futures to pop to as high as 1360.30.  your clue that the thrust will go the distance would come with a decisive upside penetration of 1342.00, the midpoint resistance associated with the target. The relevant price points are shown in the accompanying chart.  Pivoteers may notice that a pullback from a tick or two above the small peak at 1339.50 could set up a an excellent camouflaged buying opportunity. _______ UPDATE (11:41 a.m. EST):  The rally died at the 1342.00 midpoint pivot exactly, giving way to a $16 drop. There was no consequence for bullish traders, since there was no long-entry signal on the lesser charts. The next speculative buying opportunity (or bearish telltale) could come at 1328.50. On the 30-minute chart, that is a midpoint support derived from A=1342.00 (8:30 a.m. EST), B=1326.00.