The bullish pattern shown is somewhat gnarly, but there’s nothing fancy about it, and there is no reason to think the 2306.20 target, which first appeared here a while ago, will not be reached. It should be held in mind as a minimum upside projection for the near term. A mechanical buy now at the red line is problematical, however, since the uptrend failed to touch p2 before it pulled back to the line. I doubt the correction will continue all the way down to the green line (x=2073.90), but that would certainly present an appealing ‘mechanical’ buying opportunity.
GCJ24 – April Gold (Last:2166.50)