The Gold Bugs Index has shown a little more pluck than the futures lately, holding its own for the last two days after notching a promising impulse leg with last Friday’s gap-up opening. Now, unless sellers push this vehicle below 222.70, we should anticipate a new burst of strength to as high as the 232.46 target shown. A close above the 228.47 midpoint pivot with which it is associated would make a follow-through to the target an odds-on bet.
