A mere $40 thrust is all it would take for December Gold to vault two daunting peaks on the weekly chart (see inset), generating an impulse leg with sufficient power to leave bulls confidently in command of the long-term trend for the first time in a year. The technical evidence suggests they are up to the task, since minor rallies on the lesser charts have consistently breached prior highs with little hesitation. This dynamic would continue with a print today at 1778.20, setting up a potentially explosive move in the weeks ahead.
