GCM09 – Comex June Gold (Last:933.40)

it-wouldnt-take-muchOur bullish benchmark is still 935.90 a tick above an unimposing but nonetheless important peak that was created April 1 on the way down. However, if a test of resistance at $1000 lies shortly ahead for the bull cycle begun in mid-April, the futures should be able to do a bit better, surpassing a second “external” peak at 948.50 recorded on March 26. Both price points are shown in the accompanying chart