GCM09 – Comex June Gold (Last:884.70)

Continue to use 911.90 as a bullish trigger, since a print at that price would create an impulse leg that would be unstoppable over the near term.  Failing that, the futures will remain an even-odds bet to fall to at least 845.20 before they make their next important low. If there is weakness today, the best place to try bottom-fishing would be at 877.90, a midpoint pivot that can be tied to a stop-loss as tight as four ticks (0.40).