GCZ13 – December Gold (Last:1272.60)

Well, Gold finally generated that bullish impulse leg we’ve waited for so patiently. Unfortunately, and suspiciously, it took a nearly $30 shakedown first (see inset) to sufficiently deplete sellers so that the impulsive rally could be ‘arranged’. Under the circumstances, I’ll stick with our longstanding target at 1250.50 for now, although I’d become a Raging Bull, at least for the short term, if the December contract were to thrust above 1337.90_______ UPDATE (Sunday afternoon):  Just one change: Lower the threshold at which we could infer a bullish resurgence is 1298.40, which corresponds to a minor ‘external’ peak from 10/10 visible on the 15-minute chart.  _______ UPDATE (October 15, 10:06 a.m. EDT):  Gold has trampolined $27 this morning (see inset) from 50 cents above the $1250.50 Hidden Pivot we’d been using as a minimum downside target for weeks.  Since I had suggested buying aggressively down there, please let me know in the chat room of any orders filled so that I can establish a tracking position for your further guidance.