December Gold (736.50)

Gold has taken a sharp bounce from just above a Hidden Pivot support at 676 that was broached in the chat room on Friday. The fact that the low did not attain the pivot, and that the subsequent rally has created a bullish impulse leg on the hourly chart, is encouraging, since it hints that we may be witnessing the start of a rally more enduring than others that have occurred in a long while. If so, any rallies that occur over the next few days should create bullish impulse legs of minor degree, at least. Keep in mind, however, that the futures would need to hit 859.20 this week to turn the daily chart decisively bullish.