GCM12 – June Gold (Last:1642.00)

A tiresome inside day changed nothing, although the trendline whose breach to the upside would signal a bullish breakout will come in a little lower today — at 1673.60 around midnight, falling to approximately 1672.40 by early evening. As before, however, camouflageurs can start looking for a way in well before any such breakout occurs by following the two-peaks rule on the hourly chart. Bulls would re-take the offensive on a print exceeding the 1660.40 look-to-the-lef peak recorded last Friday on the way down.