Although I promoted a 2307 target here last week, I’m going to dial it back a little with the 2276.60 target of a larger pattern. For reasons of clarity alone, it should take precedence over the higher number, and therefore be viewed as a potential rally-stopper. In any case, resistances at both p and p2 were violated so brutally that there should be little doubt about using 2276.60 as a minimum upside projection. The rally was too steep even when it began early last week to catch an easy ride. The same conditions will likely obtain this week, so any attempt to get aboard would need to come from an intraday set-up on the lesser charts.
GCJ24 – April Gold (Last:2185.50)