GCZ10 – December Gold (Last:1407.5)

December Gold is aiming for 1367.9 so long as it remains below 1410.0.  The futures have active patterns pointing both up and down, with 1367.9 as a buyable dowside target (with a stop at 1366.9) so long as 1410.0 is not revisited.  If it is, we will be left with no confirmed bearish targets, and the major objectives will all be in record territory, 1431.6 coming first among them.  (Posted by Doug McLagan) _______ UPDATE (2:10 p.m. EST):  1410.0 was surpassed by a rally that peaked at 1417.6.  As the futures declined from there, a new version of the bearish pattern was confirmed and was noted in the chat room and in the webinar, albeit with some caution.  But the futures bounced at the exact midpoint of the new pattern and rallied more than eleven dollars.