June Gold looked bound for a minor rally target at 1316.50 when the music stopped yesterday. However, bulls were acting feisty in off-hours trading, presumably raising their sights to the 1431.10 target shown (see inset). As you can see, they were just a tick shy of tripping a buy signal at 1315.90 when we went to press, and any ‘camouflage’ trades initiated from that price or higher should therefore have a bullish bias. Resistance is likely to be apparent very near the 1354.30 midpoint, but if the futures trade 1.50 points or more above it intraday, or close above it, they would greatly shorten the odds of a further push to 1431.10.
