September 3rd, 2010
Published Daily

GCQ09 – Comex August Gold (Last:940.80)

by Rick Ackerman on July 2, 2009 12:56 am GMT

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Offer extended through Friday (9/3).

A Hidden Pivot at 955.20 looks like a high-confidence number at this point, so we’ll use it as a minimum upside projection for the near term. Buyers should look to get in near 939.00 Wednesday night, since that’s the midpoint sibling of our upside target, but please note that a prior low at  939.60 may impede the bid. _______ UPDATE (11:46 a.m. EDT): A buy near 939.00 would have allowed an exit no better than 941.30 after dipping as low as 938.20 , so the trade was a likely loser. Further weakness overnight was pointing to as low as 922.80 if the 927.30 midpoint support associated with that number fails.

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