GCZ09 – December Gold (Last: 943.80)

Let’s see if December Gold can make the modest leap to 950.70 today that is required to refresh the bullish trend on the intraday charts. Yesterday’s rally reversed a bearish impulse leg on the 180-minute chart, so we should be encouraged about the outcome. As of 12:40 a.m., the 15-minute chart was promising 948.00, provided the 941.50 low made three hours ago holds. Any decisive progress above that first number, a midpoint resistance, would hint of more strength to as high as 954.40.