GCM12 – June Gold (Last:1670.70)

June Gold (GCM12) price chart with targetsThe bounce off Thursday’s low has not yet gone impulsive, even on the 30-minute chart, although it is sufficient to warrant giving bulls the benefit of the doubt when trading resumes Sunday night. Their challenge will be to push this vehicle past the 1681.60 midpoint shown; for, once decisively above it, the rally would be no worse than an even-odds bet to hit 1716.50, the ‘D’ sibling, in short order. Camouflageurs may want to note that there are several small ‘external’ peaks just below the midpoint that could be leveraged for advantageous entry. Click here for information about the upcoming Hidden Pivot webinar and a coupon good for a $50 discount.)