Bulls didn’t exactly impale the 3668.10 midpoint pivot, but they have surpassed it with such graceful ease that there should be little doubt that the 4128.10 target shown in the chart will be achieved. A punitive pullback to the green line (x=3428.00), however unlikely, would enable a superb bottom-fishing opportunity. Still another may develop at the red line after the futures have touched the secondary Hidden Pivot at 3898.10. Above 4128 sits just one more target that can be extrapolated from the long-term chart: 5020.20. The significance of this number will grow if we see a stall at 4071.80, the midpoint Hidden Pivot resistance to which it is related. ______ UPDATE (Oct 3): December Gold ascended to within less than $1 of the 3898.10 target flagged above as the week began, but the correction to 3820 was over quickly and reversed with a probing rally that has yet to top 3923. None of this has changed the very bullish outlook detailed above. Most immediately, expect a stab to 3967.90, a minor Hidden Pivot resistance that can be used as a minimum upside projection as the new week begins. We’ll also want to pay particular attention if and when 4071.80 is reached, for reasons noted above.
GCZ25 – December Gold (Last:3912.00)
