Like December Silver, this vehicle is struggling to push past a midpoint resistance following Tuesday’s impulsive thrust. The pivot lies at 1726.15, with a corresponding ‘D’ target at 1756.70. The futures have already traded $2.60 above the midpoint, however, making them a somewhat better bet than Silver to extend the rally at least to ‘D’. If that happens, with Gold pulling a recalcitrant Silver higher, it would generate a robust new impulse leg on the hourly chart by exceeding the ‘external’ peak at 1751.80 recorded on September 23.
