Once again, we return to a familiar target at 3040.90 that has kept us on the right side of the trend since late 2024, when there were nagging doubts. I could have done with a little more consolidation before the April contract broke out of a fraught range last week, but I don’t have much control over such things; I only try to see them coming. The daily chart suggests possible success bottom-fishing a moderate pullback to 2958.30 as the week begins. I put out a target last week at 3230 that came from a ‘blended’ monthly chart, but let’s upgrade that to the 3533.90 target shown. A stall precisely at p=3037.70 would help validate the pattern. It would also set up a promising ‘mechanical’ buy on a pullback to x=2789.60 once the futures have reached the sweet spot between p and p2.
GCJ25 – April Gold (Last:3001.10)
