July 29th, 2010
Published Daily

GCQ09 – Comex August Gold (Last:949.10)

by Rick Ackerman on July 21, 2009 12:28 am GMT

The 959.90 rally target given here yesterday still obtains, although the futures may have to pull back to as low as 943.60 to get a running start for the next leap.  The turn could also come from 945.10, a Hidden Pivot, but I’d suggest using the lower number and a 0.70 stop-loss if you’re going to take a stab at bottom-fishing. _______ UPDATE (11:05 a.m.):  It is moderately encouraging that the futures are having such trouble pulling back to midpoint supports. However, there does not seem to be muich buying enthusiasm at the moment to capitalize on this with a push to 959.90. 

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