GCG11 – February Gold (Last:1375.80)

February Gold (GCG11) price chart with targetsA prior low at 1352.00 can still serve as a bearish tripwire, since any downthrust that exceeds it would create an impulse leg of daily-chart degree. The intraday charts remain short-term bullish nonetheless after yesterday’s $16 rebound off the lows, but buyers will have to push the futures decisively past 1378.90, the Hidden Pivot midpoint of the pattern shown, to seize the advantage.  That would be telegraphing more upside to at least 1386.20.  Alternatively, if there’s a dip below 1371.50, the point ‘C’ of the pattern, we should infer genuine weakness rather than bullish accumulation.