GCZ13 – December Gold (Last:1349.60)

The two very subtle external peaks that I’ve labeled in the chart (inset) look promising for traders seeking a low-risk way to get aboard. The rally has progressed far enough to have become a tricky proposition for new buyers, but my gut feeling is that either of the ‘look-to-the-left’ highs shown is capable of generating winning entry with relatively little stress. _______ UPDATE (October 28, 2:46 p.m. EDT): Friday’s rally failed by four ticks to surpass the lower of the two peaks I’d labeled. This is ever-so-mildly bearish for the short-term, but the peaks can still be used nonetheless to get long in the way I’d described, and any thrust that surpasses them would change my short-term bias back to bullish.