February Gold (851.90)

The 901.00 pivot flagged here earlier can continue to serve as a bullish tripwire, and once the futures move decisively above it they should be considered bound for at least 972.20. Meanwhile, February Gold appeared on Friday to be setting up for a nice thrust, having touched bullish trigger points for two patterns, one of them minor, the other a few weeks old. _______ UPDATE: The New Year has begun — Friday didn’t count — with a so-far gratuitous downdraft that bottomed at 843.50. However, it would take a print at 820.30 today to do any real damage to the hourly chart.