GCM11 – June Gold (Last:1466.50)

The 1466.30 pivot flagged here yesterday nailed the intraday high within two ticks.  Now, although we remain focused on a 1473.10 Hidden Pivot that has served as a minimum upside objective for a while, we are by no means obsessed with it.  Since a thrust to that number is not likely to be the last to achieve a new record high, let’s move to the front burner a 1502.70 target from a pattern of larger degree. Expect it to be reached relatively quickly — i.e., within 4-6 days — if bulls make short work of 1473.10.  Two other, very obscure Hidden Pivots that could cause a stall lie respectively at 1469.70 and 1485.60.  It would be a bullish sign if these resistance points don’t put up a discernible fight.