December Gold broke sharply above a 1704.90 trigger price that we’ve kept in mind for the last couple of weeks. This created a bullish impulse leg on the 30-minute chart and also put into play the 1766.50 targe of the pattern shown. The pattern is far from ideal, since it is not even properly impulsive. But the look of it seems sufficient for government work, which in this case means providing us with a serviceable minimum upside objective. Note that if it is achieved, it will refresh the bullish energy of the 240-minute chart by exceeding the 1757.90 peak from September 22.
