GCJ11 – April Gold (Last:1413.80)

April Gold (GCJ11) price chart with targetsSunday night’s first, probing thrust has fallen shy of a seconday peak at 1416.50, hinting that bulls are lacking in gumption as the new week begins. In any event, structural resistance at 1426.30 still looms as the most important challenge for buyers over the near term.  Night owls and camouflageurs may have a chance to leverage a bullish change of heart if the futures pop faintly above 1416.50 (see inset) and pull back into a b-c correction.