GCM09 – Comex June Gold (Last:896.00)

gold-needs-to-leapYesterday’s rally was constructive, since it exceeded a small peak on the hourly chart at 899.50 recorded on the way down last week.  However, because Gold has squandered numerous such opportunities in recent weeks, we’ll set a high bar to tell us whether the uptrend begun last Monday is capable of renewing itself with each bullish thrust.  For now, that would imply a push today or tomorrow exceeding 911.80— or for good measure,  917.90.