I said I would turn cautiously bullish if April Gold exceeded 1331.90 — and so it has, with a rally today that hit 1336.90. My first instinct is to move the bar at least somewhat higher lest we be fooled by yet another doomed rally. In this case, while giving bulls the small benefit of the doubt, we can use the 1343.70 target shown to guide us. If this compelling Hidden Pivot is easily exceeded on the first try, that would strengthen the bullish case for the near term. My gaze would shift upward to 1367.50, a reasonable number to use at that point as a minimum upside projection. Here’s the chart, with target.
