GCM11 – June Gold (Last:1529.30)

A rally to exactly 1536.30 seems only slightly less likely at this point than the next sunrise, but the June futures will have to do a tad better, pushing past that Hidden Pivot resistance by at least a point or two, to keep the rally feisty.  Even better would be a thrust that clears the 1543.50 peak noted here yesterday, since that would reinvigorate the hourly chart with the creation of a new impulse leg. It would also leave in the dust a crucial, 1528.70 midpoint mentioned here earlier.  One other resistance point to watch out for: 1535.40 (A=1462.50 on May 5, hourly).