Just a small push would put gold on track to hit the 1277.00 target shown. The April contract has stalled precisely at the 1235.90 midpoint Hidden Pivot, meaning a decisive push past it would make the ‘D’ target an even-odds bet to be reached. Judging from the trajectory of the rally, we might expect this to happen within the next 4-7 trading days. Also, the target should show very precise stopping power, given the precise pullback from the pattern’s midpoint pivot. If it doesn’t and the futures surpass it easily on the first try, that would imply the rally is capable of getting legs. Yes, we’ve been down this path many times before, teased and tempted but ultimately disappointed. That’s why we should simply go by-the-numbers here, using a very compelling ABCD pattern that will give us a firm handle on trend strength. _______ UPDATE (Mar 21, 11:25 a.m. EDT): The decisive push past 1235.90 has put p2=1256.40 in play as out minimum upside target (while also making a pullback to p=1235.90 a ‘mechanical’ buy in theory. In practice, use the entry trigger to create a ‘camouflage’ one.) Be alert to a possible stall, or even a significant trend reversal, from p2=1256.40.) _______ UPDATE (Mar 23, 8:20 p.m.): Today’s gratuitous feints had no effect on the benchmarks given above.
