December Gold (722.70)

A sequence of three midpoint supports can tell us how determined sellers are: 716.30, 712.90 and 710.30. As always, a penetration of one, even if by only a few ticks, would make a fall to the next likely. Alternatively, the leastmost rally required to turn the (very) lesser charts bullish would require a print at 744.40. Nightowls can try bottom-fishing at any of the Hidden Pivots given above, but I’d recommend risking no more than four ticks on the initial stop-loss._______ UPDATE: The futures bottomed at 717.80, just 80 cents from the first target, but the bounce so far, to 727.40, fell a tad shy of creating the bullish impulse league we’d need to see before inferring that a minor-trend reversal has occurred. Cancel all bids ahead of the weekend.