GCM09 – Comex June Gold (Last:885.10)

where-gold-began-to-unravelLet’s lower the bar slightly for determining whether bulls may have regained control.  We’ll put it at 907.70, a tick above where Gold began to unravel on Monday.  Otherwise, we should expect the futures to ease lower, reaching a minimum 868.90 before the day ends. That’s a moderately enticing Hidden Pivot support, and you can bottom-fish there with a stop-loss as tight as 0.70 points. ______ UPDATE: Gold has spent the day screwing the pooch. The earlier analysis still holds, even if the day’s weakness was not as bad as expected.