December Gold was treading water late Tuesday night, up a few insignificant bucks. We’ve come to understand by now that an overnight rally of at least $30-$35 is necessary for there to be any gains left when the day shift gets done with this vehicle. It’s probably a good time to reiterate the bearish sequence of Hidden Pivot targets we’ve been using in recent weeks: 1212.80 and 1195.40. Remember as well that there’s a bear-market target at 1125.00. Please note that we could banish such negative thoughts, at least for the time being, were the futures to leap above the 1267.90 ‘external’ peak shown.
