December Gold (728.80)

Comex Gold was creeping higher as trading began Sunday evening, but it’ll need to hit 743.90 to warrant our rapt attention. Night owls looking for a very low-risk way to get long should consider buying if the futures trace out a pattern like the one shown in the chart. The key to the strategy is an A-B impulse leg that terminates between the two numbered peaks. That would give us a rules-based, “stealth breakout” that is not likely to have registered on the radar of conventional support-and-resistance traders. Alternatively, if gold continues lower, the first Hidden Pivot support we could use for a downside target lies at 712.90.