GCZ13 – December Gold (Last:1356.30)

The futures have been up as much as $8 in off-hours trading, most of it achieved in a single bound shortly after 10 p.m. The thrust missed being bullishly impulsive on the 5-minute chart by 90 cents, raising a yellow flag for night owls attempting to leverage a low-risk, ‘camo’ handhold for the next leg up. For those game to try nonetheless, I’ll suggest looking for your entry on the one-minute chart or less after a signal at 1356.90 has been tripped on the 5-minute chart.  Immediate upside potential would be to the 1362.40 target shown, predicated on an easy move through the 1358.70 p midpoint represented by the red line. Above 1362.40, you should look for a minimum 1364.90, a target derived by sliding point ‘A’ down to the overnight low at 1350.50.