April 18, 2023 - (Gold Market Wire) - As explained in our last missive, the discipline required a 50% profit take on the approach to $2050. There is a lot of resistance up there, and it will not reveal its 'charms' easily.

We warned that an accelerating 'updraft' into $2050 would be the warning sign, and, sure enough, that's exactly what we got: a proper vertical surge, followed by a straight line down. If you waited for every last penny and missed selling the approach to $2050, you should probably consider another line of work.

So nw we have a range between $1982 and $2050 - give or take a few dollars. The horizontal bottom is pretty clear, and the top is well defined. This al fits within our channel. We held that 50% left-over for the ride, because we are in a highly bullish posture. On any move down, we are likely to take part of the 50% shed, back on to the book. We don't like the fact tat we didn't complete the move to the channel bottom, but the fact that we stopped on the horizontal is encouraging.

Nonetheless, life above $2,000 is getting ready to be a feature of the new market conditions.