GCZ10 – December Gold (Last:1361.80)

December Gold (GCZ10) price chart with targetsWith just a little extra push, the futures slightly surpassed the bullish rally target at 1366.10 that I disseminated late last night, creating a fresh impulse leg on the hourly chart in the process. The implication is that buyers are about to take the futures up to at least 1371.70, the Hidden Pivot target of the pattern shown in the chart. If you’re looking for a place to board — presumably via camouflage — the most logical spot to try would be near 1359.80, the c-d midpoint pivot of the rally under way. _______ UPDATE (9:52 a.m. ET):  Gold has achieved the target and then some, topping so far today at 1373.30. It will take a bit more than that, however — specifically, a 1376.70 print before noon — to refresh the bullish impulse on the hourly chart.  Otherwise, look for backing and filling and an unexciting rest-of-the-day.