I’ve adjusted my bullish price objectives upward by a few cents to, respectively, 31.245 and 34.055, the midpoint pivot and ‘D’ target of the pattern shown in the chart. The midpoint appears to be getting left in the dust Thursday night, but I’ll feel more confident about it when the futures take out the 32.880 peak labeled in the chart. A push to 34.055 is already an odds-on bet, but bulls will need to do better, surpassing the look-to-the-left peak at 35.510 to go back on the attack. It is analogous to a similar peaklet at 1705.00 that I’ve flagged in December Gold, and its breach would revitalize the bullish energy of the hourly chart.
