GCZ10 – December Gold (Last:1200.40)

“Dueling impulse legs” on the daily chart yield a mildly negative bias for perhaps the next 5-8 days, but there’s no evidence that the futures are about to fall apart. In fact, they could pull back to as low as 1165.10 over that time and still be considered perfectly healthy. Most immediately, however, there is downside jeopardy to as low as 1190.50.