Where is Gold headed?
Gold has to take out 2008 to issue a sell signal and then the max. a pullback would be to 1940 or 1923. It is very overbought. Cycles would give it a chance to hold up much of next week with next Tuesday being very volatile. We have to favor the pattern of 2062-65 manifesting. Above 2070, the market could explode. We are not seeing too much to knock it down until after April 20th and that may be only brief.
We are getting too close to a 3-day weekend and overbought conditions to expect that upper targets will come in today. Still, we like next week and we warned you that we do not see much weakness in the cycles. The most bearish pattern would stop at 2065-2072 and pull back to 1940. The more bullish pattern would allow 2178 next and confirm the May high to 2285.
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