GCZ12 – December Gold (Last:1705.50)

Thursday’s faintly promising rally has been erased by late-night weakness. Although the futures are technically in an uptrend relative to Wednesday’s 1698.7 low, a larger pattern projecting to as low as 1686.00 still holds sway. Notice that it has now been reinforced by a lesser pattern that targets 1686.40. Since that pattern’s 1702.60 midpoint support has already given way, odds are high that at least somewhat lower prices impend. Because of the confluence of targets, I am recommending that you bottom-fish there via camouflage, using the three-  or five-minute chart.  If any fills are reported in the chat room, I’ll establish tracking guidance.  Click here for a free peek at all of Rick’s touts and real-time trading recommendations for a week.