GCM10 – Comex June Gold (Last:1180.70)

All charts point higher, but it will be most useful to settle on one that can tell us how high the current, minor cycle is likely to go.  The pattern I like comes from the weekly chart (see inset) and yields a Hidden Pivot target at 1208.80. We’ll use that number as our minimum upside objective for the near term — and please note that I consider this a very high-confidence call.  A pullback  to 1166.60 should be considered felicitous, since that’s the midpoint associated with our rally target and therefore an excellent place to attempt to augment long positions.