GCQ09 – Comex August Gold (Last:934.20)

The futures were mucking about in a narrow range early Thursday morning, seemingly reluctant to traverse the remaining distance to a 921.50 target broached in the chat room.  Night owls can try bottom-fishing at 924.70, a midpoint support that will remain valid as long as 931.10 is not touched first. ______ UPDATE (8:08 a.m.): Shifting to the December contract, if you drop down to the 5-minute chart, you’ll see why the overnight rally lacked real guts. Notice how its peak at 937.00 failed by a hair to take out two look-to-the-left peaks made on the way down yesterday around 9:10 a.m.