GCQ10 – August Gold (Last:1217.80)

August Gold (GCQ10) price chart with targetsThe 1261.80 target that I alluded to in today’s commentary is the Hidden Pivot sibling of a midpoint resistance at 1214.90 that was also mentioned. The provenance of both of these numbers is shown in the accompanying chart, and although the rally pattern is a little too obvious to be considered ideal, it looks good enough for predictive purposes.  Night owls will not easily find camouflage, since the uptrend is entering its fifth straight day, but you might try boarding on whatever pullback — the briefer the better — occurs following a feint above  the 1222.30 peak labeled in the chart.