GCM09 – Comex June Gold (Last:927.00)

It would be hard to say whether the tepid rally of the last three weeks has been more aggravating for bulls or bears, but the former should continue to use 935.90 as a go-ahead signal, since that’s what it would take to turn the daily chart decisively bullish.  The most immediate Hidden Pivot target, 936.60, would do the trick, but if the futures fall back for one last consolidation, look to buy around 921.50 with a tight stop-loss, since that’s the midpoint pivot associated with the target.