A 1787.70 rally target identified here in an update yesterday remains our minimum upside objective for now, but bulls would end the week on a rampage if they push the rally past the two additional ‘external’ peaks shown in the chart. There are others as well dating back to September, and they have the potential to keep us confidently informed of buyers’ intentions as Gold works its way higher. Most immediately, any progress today above 1787.70 would portend additional upside to at least 1820.10, a Hidden Pivot target shown in the chart. ______ UPDATE (10:57 a.m. EST): Gold futures are caught up in an eddy of violence and stupidity this morning, even if that has not diminished their predictability an iota. The high, before the futures went into a $25 up-down–up conniption, was 1786.50, just shy of the target given above. And ow, at this very moment, they have rocketed off a 1774.20 low to a new so-far intraday high at — suh-prise, suh-prise — 1787.50.
