A weak opening Sunday evening has knocked $10 off the price of December Gold, generating a so-far low at 1730.80. To turn things around on the hourly chart, bulls would need to achieve a print at 1761.10, a single tick above a small peak recorded Friday on the way down. Failing that, however, the futures will face downside risk over the next day or two to 1706.80, or even to 1687.90 if it gives way. The provenance of both targets is shown in the chart, and it is the implied symmetry of a pattern yet to play out that gives them credibility.
