Gold’s upward progress has been unspectacular. Even so, nothing, as the saying goes, is more bullish than an uptrend. Wednesday’s thrust was sufficiently robust that, for a change, we won’t need to give bulls the benefit of the doubt. That means we can take the 1154.40 target more or less for granted. The tradable implication is that it makes a pullback to 1142.90 a ‘mechanical’ buy, provided the futures are pulling back from at least 1147.00 and that the pullback takes at least 2-3 bars to play out on the hourly chart. I’ve sketched this hypothetically for your further guidance.