GCJ11 – April Gold (Last:1426.80)

April Gold (GCJ11) price chart with targetsGold is at an important threshold from a Hidden Pivot standpoint — but also because the Dollar looks ripe for a bullish turn that could subdue bullion for a while.  On the bullish side, notice in the chart how a rally of just $10 would breach two “external” peaks, presumably setting the stage for either an immediate breakout to new all-time highs, or at least a consolidation for a breakout later.  However, an excellent camouflage buying opportunity could follow a pullback from within the narrrow range separating peaks #1 and #2.  If the futures simply fall from here, however, we could look to bottom-fish at the 1403.30 midpoint support shown in the chart.