GCM10 – Comex June Gold (Last:1157.80)

Yesterday’s feverish chop had a moderately bullish bias and a commensurately modest target:  1160.10.  It is an odds-on bet to be achieved, since, as of Wednesday night, the futures had pushed slightly past the 1158.40 midpoint resistance.   A print at 1160.10 would suffice to refresh the bull on the very lesser charts, but we should require a close above 1161.00 to avoid jumping the gun.  The spaces betwixt each of the three numbered peaks in the chart leaves ample room in theory for the development of a camouflage entry opportunity.