GCZ10 – December Gold (Last:1327.90)

A Hidden Pivot support at 1291.60 still beckons as a logical place for this now seven-day-old correction to bottom.  However, we should be alert to the possibility of a decisive turn from somewhere above it, since the futures were struggling on Friday to reach even the 1314.25 ‘c-d’ midpoint of a lesser downtrend. They would more than merely harass bears this week with a print exceeding 1158.90, a “soft” peak on the hourly chart that I identified here earlier.