April gold is below $1310 and tested $1305 this morning. Prices are bouncing slightly, currently at $1312.11. Closing today above $1315 would support a bounce. Declining below $1305 and then $1300 could trigger a sharp selloff.
-GDX- The morning gap was filled within the first 30-minutes of trading. Closing above $22.40 today would support a short-term bounce. A reversal lower later today that sinks to fresh intraday lows could trigger a sharp selloff.
