GCZ12 – December Gold (Last:1748.20)

Two benchmarks not far above are likely to test buyers’ enthusiasm.  The first, at 1763.00, is not in doubt as a minimum upside objective because of the ease with which bulls shredded its 1733.30 midpoint sibling. The futures will have to punch through the higher number, however, and decisively so, to be deemed fit for a further push to 1771.40.  Camouflageurs should call up a more extended version of the chart to acquaint themselves with the look-to-the-left peak at 1758.40 created on October 12, since a small pullback from just above it could create an absolutely perfect spot to get long if you haven’t yet done so by then.  It’s easier than you might imagine to out-forecast gurus who do it for a living. Click here for a free trial subscription that can start you on the road to making your own trading and investment decisions.