You don’t need to be a chartist to see how bulls masticated major trendline resistance last week, setting up October Gold for a push to at least 2589.60 over the near term. If that Hidden Pivot doesn’t stop the rally, 2597.80 will be the next stop, and thence 2752.20. The provenance of those last two numbers can be seen in this chart. In the meantime, any one-level pullback on the second chart would signal a ‘mechanical’ buy for a presumptive ride to D=2597.80. Intraday buying opportunities abound on the lesser charts.
GCV24 – October Gold (Last:2525.00)
