GOLD (Futures): While the immediate challenge is for the commodity to break and hold above the 1,133.18 level, its Mar 17'10 high and the 1,144.88 level, its Mar. 04 high, we think that as long as Gold maintains above the 1,088.20 level and its long term rising trendlinecurrently located at the 1,075.45 level, a violation of those levels is likely. In such a case, the 1,161.88 level, its Feb. 11 high will be targeted ahead of its psychological level sited at 1,200 and then its 2009 high at 1.226.33. Its daily and weekly studies are bullish and pointing higher supporting this view. On any pullbacks from its current price levels, the 1,098.23 level, its Mar 12'10 low will be targeted with a break of there setting the stage for further downside pressure towards the 1,088.20 level and its longer term rising trendlineat 1,075.45. On the whole, having maintained its recovery tone set from the 1,098.23 level, further upside risk now eyes the 1,133.18/1,141.88 levels and beyond.

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