The rally pattern shown should be etched into your brains by now, since progress toward its 1232.00 target has been glacial. Assuming the futures eventually get there, my hunch is that it will require a pullback to the red line (1203.00) from somewhere between 1210 and 1220 to get sufficient running room for the final ascent. Although there is not much excitement in this prospect, there are potential gains for anyone patient enough to monitor tradable ABC patterns on the very lesser charts. _______ UPDATE (2:05 p.m. EST): I expect a dull week, but if December Gold rolls down from here without having exceeded 1207.60 to the upside, a ‘midpoint Hidden Pivot’ support at 1145.00 would come into play analytically. Its easy breach would portend yet more downside over the near term to at least 1114.60. Regardless, 1145.00 can, and should, be bottom-fished with a stop-loss as tight as you can abide.
