GCJ10 – Comex April Gold (Last:1124.50)

I’ve stipulated that before the futures are deemed likely to bolt for a Hidden Pivot rally target at 1154.30 they must first close for two consecutive days above an important midpoint resistance at 1126.00.  Yesterday’s finish fulfilled half the requirement, but the futures will need to finish the week firm-to-higher to set the bullish scenario irreversibly in motion. There wasn’t much happening at 6:30 p.m. EST to provide a low-risk handhold for trend surfers, although the pattern shown in the chart is probably worth a three-tick stop-loss for speculative bids placed at 1123.70. _______ UPDATE (11:35 p.m.):  The futures took a $1.80 bounce from a tick above our bid, turning the recommendation to dross.  Somewhat lower prices ensued, suggesting there was little urgency tonight on the buy side.