The tortuous move toward an 1858.20 rally target broached here last week is living up to expectations, sapping bulls’ energy with swoons that are being recouped only with a lot of grunting and wheezing. The target still looks like a good bet to be reached, however, and we should remain open to the possibility that it won’t impede buyers for long. If they can close above it for two consecutive days after first touching it, we’d shift our sights up to the next significant Hidden Pivot resistance, 1907.10 (120-min, A=1642.30 on 11/3. _______ UPDATE (Dec 16, 12:35): The Feb contract would trip the second ‘mechanical’ buy in two weeks if it falls to the green line (x=1776.90), stop 1733.40). With $17,000 of entry risk on four contracts, this one is recommended only if your ‘camouflage’ skills are up to snuff. All others should paper-trade the opportunity to learn how it works (or doesn’t, occasionally.)
GCG23 – February Gold (Last:1788.40)
