I aired a series of minor bearish targets yesterday that implied April Gold will stair-step its way down to 1176.30 in the days ahead, but a new target at 1167.10 ‘discovered’ by a hawk-eyed subscriber looks even more likely to deliver a durable low. The target is associated with a midpoint pivot at 1195.10 that has twice repelled the downtrend, lending authority to the 1167.10 target itself. The lesser targets, respectively at 1189.40 and 1186.00, can be bottom-fished if you are eager to day-trade, but I’d suggest doing so only if you’ve been short for at least part of the ride south.
