GCZ13 – December Gold (Last:1329.20)

It’s Sunday night, and Gold has been up as much as $21 so far, tracking last Thursday’s forecast perfectly. The December contract is currently at 1329.90, just off a 1333.00 high recorded on the opening bar. Keep in mind that the first test of the 1428.80 rally projection proffered here last week will come at its midpoint sibling, 1358.90. An easy or decisive move through it would greatly shorten the odds of a quick follow-through to the higher number. For trading purposes, camouflageurs should try to leverage the ‘external’ peak at 1334.00 shown in the chart.  Any rally that pulls back from a tick or two above that number would afford an excellent opportunity to get long, especially if the B-C pullback is as shallow as $2 or $3. The expected ride would be to at least 1350.40, a secondary target that has come into focus tonight.