GCJ11 – April Gold (Last:1398.70)

April Gold (GCJ11) price chart with targetsA pullback into the range 1374-1390 would set up a C-D thrust to as high as 1450.10 (see inset).  The move would be telegraphed by a booster-stage rally of 15 points beginning from anywhere between those two numbers. More immediately, minor corrective selling below a 1397.90 midpoint support implies more slippage to its ‘d’ sibling, 1388.80.  If the futures swoon to that number, you can bottom-fish with a stop-loss as tight as five ticks. Camouflage-seekers should look for the turn beginning from around 1389.60.