GCZ10 – December Gold (Last:1259.2)

December Gold is aiming for two Hidden Pivots just above the ten-week high made yesterday, after which it will target its all-time high.  On Tuesday, gold continued its hitting streak by peaking at exactly 1261.6, a level we had touted in bold and color just hours earlier.  (It is probably time to change our terminology to say that it is the Hidden Pivot method that is on a hitting streak in the gold market.)  The 1262.3 pivot highlighted yesterday is still in play, as is a new midpoint pivot at 1263.8.  Above there we have no pivots below the all-time high of 1270.6.  The sibling “D” target to the new midpoint is at 1271.4, but if that level is blown away by a breakout surge, watch for resistance at 1284.1.  The pair of pivots at 1263.8 and 1271.4 depend on their “C” point of 1256.2 remaining untouched.  Should that “C” point be re-set, pivoteers will have to recalculate, using A=1246.4.  (Posted by Doug McLagan)