I seldom use trendlines, but in this case they vividly illustrate what the term ‘rangebound’ could conceivably mean for gold futures in the weeks and months ahead.  The December contract is currently trading near the midpoint of the rising wedge formation shown, and you can see why calling for a big move up or down from here flouts not only the visual logic of the chart, but common sense.  From a Hidden Pivot perspective, it is a bearish sign, at least for the intermediate term, that early October’s peak at 1798.10 just missed exceeding the external high at 1800.90 recorded last March. (Click here to sample Rick’s forecasts free for a week.  You will also have access to the 24/7 chat rooms.)