GCG11 – February Gold (Last:1423.90)

February Gold (GCG11) price chart with targetsA Hidden Pivot at 1439.70 is the next likely stop on the way up, and it should be expected to show some stopping power. Since we should always have a target in mind beyond the obvious ones, let’s use 1472.60, a Hidden Pivot that comes from the daily chart, where A=1284.50. We are running out of compelling targets on the daily chart, but switching to a composite weekly chart yields a serviceable pair of pivots at 1512.20/1550.30 (see chart).  They are neither obvious nor intuitive but would be a legitimate entries on a target “matrix” comprising all ABC permutations on the monthly chart.