GCQ09 – Comex August Gold (Last:976.60)

The futures sold off hard after making their high early in the day — but then, when haven’t they done so?  The important thing is that buyers had no trouble pushing the August contract past a Hidden Pivot resistance at 985.80 noted here earlier. Night owls should put a stink bid in at 970.60 stop 969.90 and keep your fingers crossed. If the futures move higher without deferring to our niggardly effort, use a pullback that begins from between peaks 1 and 2 for “camouflaged” entry. _______ UPDATE: Sweeeet. The stink bid worked rather nicely, since August Gold touched a low of 970.50 overnight (i.e., 4 a.m. EDT)  before uncorking a nearly $18 rally to a so far high this morning of 988.30.