GCZ16 – December Gold (Last:1275.90)

golds-relapse-portendsThe futures relapsed without having gotten past the higher of two bullish benchmarks posted here yesterday. The subsequent fall beneath a 1276.70 midpoint Hidden Pivot support makes more weakness to d=1261.80 a good bet at the moment, although one could also play for a bounce from that target.  If buyers fail to generate much of one, that would indicate still more weakness in the days ahead — presumably to structural support in the range 1240 to 1260. A surprise win by Trump would probably send prices higher, but be wary of any rally that falls shy of 1331.50, where a key peak was recorded September 20 on the way down..