Last week’s spirited rally stalled somewhat above a 2419 pivot I’d characterized as a lock-up. The overshoot was $8, but that is sufficient to imply more upside this week to the 2488.90 target shown in the thumbnail chart. This Hidden Pivot resistance would complete a bullish pattern begun in 2019 from 1411, so it is an important number. However, if it shows little stopping power, we could infer that another bull thrust is coming, this time to the 2553.80 target given here previously.
GCM24 – June Gold (Last:2417.40)