Gold

Everything inside the rectangle is a forward looking projection

It's been several weeks since I've last updated on Gold.  In the last update I said we should expect a pullback near the intersection of the two trendlines, which it has touched twice now in the last few days.  It was only a month ago we were looking for the 1k dash in this post.

I have drawn in possible projections that first takes gold up to the 930 level.  If gold does fail the 900 support level that puts the next target at 850, which is the intersection of the next two trend lines.  I'm curious to see if the date at the intersection of those lines (end of May) is accurate.

I should go on to say that this scenario is being presented IF gold loses 900.  It's resting on an important pivot point right now while the market is trying to find a bottom.  When it does Gold will continue to find selling pressure.