As detailed in today’s commentary, gold’s modest rally yesterday was more encouraging than it may have looked, surpassing no fewer than three prior peaks on the intraday charts. The key to the intermediate term, however, is the rally’s ability to vault past yet another peak at 1681.70 before buyers take a serious breather. All key price points are shown in the chart, the same one I’ve used in my commentary. Night owls looking for a way to get long risking relatively little will need to drill down to the 10-minute chart, where at this very moment a very nice camo pattern has tripped an entry signal at 1644.50 (A=1641.50 at 6:40 p.m. EST, B=1645.20).
