GCG10 – Comex February Gold (Last:1198.50)

Too bad December Gold couldn’t close above $1200, since it would have turned up the heat on the cabal that has been struggling in vain to hold prices down. They’ll have their hands full on Wednesday nonetheless, given the niggardly correction from Tuesday’s high, 1204.00. For now, let’s use a 1227.90 target that comes from the hourly chart (see inset). The midpoint support lies at 1181.80, so a pullback to that price should be used as a buying opportunity if there’s a minor reversal-rally pattern to leverage (i.e., “camouflage”).