GCJ14 – April Gold (Last:1321.60)

The futures have pulled back from a peak that came within $5 of a 1335.30 target introduced here a week ago, when this vehicle was trading $40 lower. The target remains valid, but in the meantime we should regard any pullback as a buying opportunity. That’s because the top of the most recent rally leg refreshed the bullish energy of the daily chart by surpassing November’s ‘external’ peak at 1325.20 (see inset).  Camouflageurs should look to do their buying near the p or D Hidden Pivot of corrective downtrends on the lesser (i.e., 15-minute or lower) charts.