April gold futures have appreciated 12% since establishing a bottom in late 2013. Wednesday's drop of 1% is only the second negative session in 14 trading days since breaking above the 100-day MA, currently at $1270. Above that pivot level I see the 200-day MA at $1305. A 61.8% Fibonacci retracement has been completed in recent session and as I say in the title, I believe the easy money has been made on bullish trade. I have advised clients trading this precious metal to tighten stops and lighten up on bullish trade. Aggressive 
Tighten Your Stops
In just over 3 weeks, May silver futures have put on nearly 16%, but the tide is shifting, with futures lower by 3.4% as of this post. Prices stalled in recent dealings just above the 50% Fibonacci retracement level around $22/ounce. The current line in the sand is the 200-day MA coming in at $21.15. I believe a settlement below that pivot level means an interim top has been established and we may experience a correction lower. On a move back under $20/ounce in the coming weeks bullish trade would be back on my radar. As with gold traders, I have advised the bulls to tighten their stops and lighten up on any
