June Gold traded to a new contract high of $1542.70, on Friday, April 29, 2011, the projected reversal date. Gold also reached target objective at the intersection of the ascending median line and downward sloping reaction line. This price action completes the longer-term bullish cycle that began with a pivot low on January 27, 2011.
Will this confluence of time and price end the current rally, or will Gold consolidate, form a new signal pattern and begin a new bullish cycle? I will keep monitoring this market and have updated trade signals in future issues of the TMV Swing Trading Report.