GCZ11 – December Gold (Last:1782.50)

December Gold (GCZ11) price chart with targetsA Hidden Pivot resistance at 1785.60 remains my minimum upside objective for the moment, but a close above it, as noted here earlier, would put the 1830.50 target of a larger pattern in play. Early Monday morning, the futures were nicely on track to continue higher, having pushed past the 1772.60 midpoint pivot of the pattern shown.  It’s ‘D’ sibling lies at 1795.30, at which point the round-number benchmark at 1800 should be magnetic. _______ UPDATE (11:29 a.m. EST): The 1785.60 target given above appears to  have caught the top of a $30 rally within a single tick.  The pullback from this morning’s 1785.50 high has come down to 1781.60 so far.  Someone in the chat room mentioned having gotten short at the top. If you did likewise, perhaps reversing a long position, I’d suggest taking a partial profit here and tying the rest of the position to an impulse-leg stop on the one-minute chart. At this precise moment, that would imply exiting at 1785.10.