GCZ10 – December Gold (Last:1358.20)

December Gold (GCZ10) price chart with targetsFor all of the exhilaration bulls may have felt yesterday, it must be noted that the rally failed by a potentially crucial point-and-a-half to surpass a key external peak at 1364.30. We’ll give the bulls another chance today, however, since they were in the process of creating a 1366.00 target early Friday morning.  If it’s reached, more upside to at least 1378.40 would become a safe bet.  That is the Hidden Pivot midpoint of the large pattern shown in the chart.