GCZ11 – December Gold (Last:1682.70)

December Gold (GCZ11) price chart with targetsThe benchmarks we’ve set for bulls to regain unambiguous dominance were ambitious, lying at 1747.70, or even more decisively, at 1833.00. Absent a determined push toward those numbers this week, we can expect the futures to continue their downward course to at least 1627.30, an important Hidden Pivot midpoint support identified here earlier.  Bulls would earn a respite, however, and the benefit of the doubt, if they can merely exceed 1695.20 today.  That would create a bullish impulse leg on charts of lesser degree, as shown.  Click here if you’d like to learn more about the Hidden Pivot Method.