GCZ09 – December Gold (Last: 950.80)

The 941.70 downside target given here earlier is still valid, but a run-up exceeding 956.00 would turn the very lesser charts bullish again. With the futures currently buoyant at 8:35 p.m. and trading just off a 950.50 high, my immediate objective is 951.10.  If that Hidden Pivot is brushed aside, it would be a bullish sign for the very near-term. ______UPDATE (10:28 a.m.):  The futures bottomed overnight at 842.10, exactly 40 cents from the target. The fact that it was not quite reached is bullish for the near term.