Simpler chart of trading range in gold may point to $1277.30 target: Posted 21 April 2013.

Here is another chart that is fairly simple. It looks at the trading range on gold from the Stockcharts.com weekly gold chart at:

http://stockcharts.com/freecharts/gallery.html?s=%24GOLD

Conservatively, the trading range in gold was from $1535 to $1792.70, a range of $257.70. On a breakdown from this horizontal trading channel, the target is simple: $1535.00-$257.70 = $1277.30.