Gold made a gratuitous new point ‘C’ low yesterday in the throes of a week of nearly unendurable tedium. However, this didn’t diminish the potential usefulness of a by-now-well-promoted trendline that will come in today anywhere between 1671.90 and 1670.60, depending on the time of day. As before, camouflageurs can try to get long in advance of a breakout by looking for a bullishly impulsive thrust on the hourly chart. A previous peak at 1660.40 remains the trigger price for bulls to regain the offensive.
