GCZ13 – December Gold (Last:1250.60)

It’s been a while since we’ve seen the futures move higher for two consecutive days, but it looks like the drought will finally end today.  This is notwithstanding the fact that after-hours trading began with a lurch higher that would have trapped more than a few bulls. But the pullback so far has been shallow, suggesting that shorts for a rare change were mildly on the ropes early Tuesday morning. Now, if they can goose this vehicle past the 1263.20 ‘external’ peak shown, then go on to exceed the 1264.00 ‘D’ target, that would set a bullish tone for next week.