GCJ11 – April Gold (Last:1340.30)

April Gold (GCJ11) price chart with targetsGold’s chart is so anemic relative to the one shown in today’s Silver tout that it could almost be described as divergent. Specifically, the short but powerful bearish impulse leg created by Monday’s low has yet to be answered by a bullish impulse leg even on the hourly chart, let alone the 480-minute chart displayed in Silver.  A pop today exceeding 1354.00 would enhance an already moderately bullish short-term picture. Indeed, we should expect it, since flux surpassed a 1342.00 midpoint associated with a rally target at 1360.30 (previously noted).