March19, 2024 - (Gold Market Wire) - The 'back and fill' we were wondering about is slowly, at last, taking place. So, we are about 2% off the highs, and starting to fill the gap. The first Fibonacci retracement has been touched.

Ideally, we'd like to see another leg down, to the 38.2%, before we consider re-establishing the 50% we shed near the highs. The market remans in a bullish posture, the pullback is normal, good and healthy, but we don't want to add the length back too soon.

The idea of the scale down buying program remains in force. We could consider cutting another 25% for a weekly close under $2145, if we want to try and 'job' the market.

Let's see if the downside starts to gain traction. So far the program is going according to plan.