Bulls should have learned by now to distrust any and all feints higher in Comex Gold, since each almost invariably gives way to an equal reaction in the opposite direction. That said, bulls still hold a small edge in the task of completing a move to the 1430.10 target shown. If this were to occur, it would trip the snooze alarm I’d advised setting at 1416.60 At that price, we’d have a bullish impulse leg on the intraday charts — not to mention, a possible opportunity for camouflageurs to get long if the thrust is subtle enough.
