GCG11 – February Gold (Last:1385.60)

A 1396.30 benchmark that we used yesterday can continue to serve as an alert if bulls should turn serious.  This seems unlikely in the absence of news to drive the metals market, but stranger things have happened.  Alternatively, a midpoint support on the hourly chart at 1369.30 can be used as a downside objective if gold gets sacked, but it is too murky to use for tightly stopped bottom-fishing.