GCZ13 – December Gold (Last:1223.60)

Notice that bulls’ best shot on Friday failed to punch past the implied resistance of the two labeled peaks, let alone the crucial ‘external’ peak at 1267.90. If any of this were to occur over the next several days, we’d be the first jump back on the bullish bandwagon, such as it is.  Barring this, however, the bearish targets given here earlier will continue to obtain: 1212.80, 1195.40 and, ultimately, 1125.00. I am making no recommendation for a ‘camouflage’-style entry here simply because the lesser charts that we’d be using to do so are conflicted, reflecting a duel between bulls and bears. _______ UPDATE (8:08 p.m.): No change, although camouflageurs can always attempt to bottom-fish any bearish target that I’ve highlighted in brown. They are Hidden Pivots, which implies that they are high-odds spots for price reversals.