1. In Thurs. (April 2) Williams edge live meeting it was noted that May gold (then trading at approximately $1201) was expected to trade at $1218 (or higher) this week (week of April 6). A daily close above $1201 would further confirm this outlook for aggressive traders.
2. Thursday’s session closed above $1201 (at $1202.30) and today’s (Mon., April 6) session advance powerfully and completed the $1218 upside target (and higher). Today’s session high, $1223.10, so far.
3. Partial long position exits should have been taken at/near the main $1218 upside target. Higher prices remain likely and will be messaged in a subsequent update along with a possible new long entry as well.
4. A protective sell stop should be placed at $1210.00. The stop will be moved higher as the market continues to confirm.
1. May gold declined and triggered our $1210 protective sell stop, resulting in a successful trade. Will message any further entry or indication in May gold.