COMEX gold extended its major (long-term) downtrend to a low of $1,673.70 during March before closing at $1,713.80, down $14.30 for the month. Note the low was a test of the initial major downside target of $1,674.60, a price marking the 38.2% retracement level of the previous major uptrend fro $1,046.20 (December 2015) through the high of $2,063.00 (August 2020). With monthly stochasitcs still near neutral in the 40% to 50% range, there is still plenty of bearish momentum to take the market to its next target of $1,554.60, the 50% retracement mark. However, The secondary (intermediate-term) trend on the market’s continuous weekly chart looks to be nearing an upturn, a move that would be considered Wave B (second wave) of the major 3-wave downtrend pattern. If this is confirmed the secondary upside target area is between $1,822.40 and $1,914.30.