GCG10 – Comex February Gold (Last:1153.70)

As of 9 p.m. EST Sunday, the February contract had not created any bullish impulse legs even on the lowly 5-minute chart, suggesting there is more selling to come. If so, look for the futures to grope their way down to a Hidden Pivot support at 1133.70 in search of traction. Alternatively, buyers would need to pop this vehicle to at least 1177.60 to regain the upper hand.  The battle over the near term is likely to center around 1148.70, the midpoint sibling of the 1133.70 target.