Early Tuesday night, April Gold was in a shallow distribution just beneath the 1675.50 midpoint support flagged in yesterday’s tout. This is bearish, of course, and if the selling should snowball toward exhaustion, it would imply more downside to 1623.40, the midpoint’s ‘D’ sibling. Note the four external lows, as yet unbreached, that were recorded in January. If only the first is exceeded to the downside, it would significantly shorten the already good odds of 1623.40 being reached.
