GCZ12 – December Gold (Last:1746.00)

The futures are entering their third week of a corrective move that targets 1732.30 most immediately.  That’s a Hidden Pivot midpoint support, and its ‘d’ sibling at 1709.70 would be in play if it’s exceeded by more than 40 cents.  For bulls to regain the initiative would require a thrust exceeding 1758.40, an external peak whose significance is clear in the accompanying chart.