Gold’s ballistic ascent over the last three weeks has left doubters choking on dust. It has also practically clinched a further run-up to our longstanding target at 2803.40, a Hidden Pivot equivalent to one at 2771 that we used for the October contract. Although it’s useful to have a ‘guarantee’ that a rally target will be reached, a drawback is that the uptrend has been too strong to give us the one-level pullback we require to craft low-risk ‘mechanical’ entries. They are possible nonetheless on charts of lesser degree, but the opportunities tend to arise during the day or before dawn in NYC. For that reason, you should stay close to the chat room if you trade this vehicle or want to augment a long-term position. If you’re wondering how sliding ‘A’ down to October 6’s 1933.00 low would change the outlook, here’s a Hidden Pivot rally target to hitch your wagon to: 2940.10.
GCZ24 – December Gold (Last:2668.10)
