Gold action in the morning of 4/7/17

OK, gold has hit the target we were looking for the swing point of $1,265 on 2/27. As you can see from the chart below it has more volume (as of 9:30 est) than 2/27. So from the daily perspective if the price holds above $1,265 we are looking to go higher. There would be some resistance at the $1,271 area so lets keep an eye for that.

The problem that I see is if you look at the weekly chart below. The volume on the weekly bar of 2/27 is much higher that this weeks volume which suggests a weekly failure. So if it closes below the $1,265 level the weekly chart is the one to watch.

I WILL return later today to see what happens during the market today.

ps those bars on the bottom of the graph are the volume bars.