Last week the commercials in gold and silver made some bullish moves as they added longs and took away short positions. Gold doesn’t have to fall to $ 1260 as it could just blast up from today’s prices as well.
If a bullish move is still pending then that right shoulder trend line should not hold. Any price move above $1350 would be a good sign If we are in a corrective pattern and we get a 5th wave. It could be as long as wave three by the time this rally is finished.
We still have a full week of trading for May but then June could produce another reversal.