GCZ10 – December Gold (Last:1340.00)

Most of yesterday’s gains were compressed into a few minutes, so it was easy to miss the train. Now, the lesser charts point moderately higher, into the mid-1350s, but the hourly chart suggests that more corrective action may be needed to set up the next thrust. Bearish targets at 1291 and 1278 remain valid in theory, but we’ll go with the uptrend until such time as it flames out.  1359.00 is still the number to beat.