Feb Gold’s feeble rally achieved more than it may have seemed, narrowly exceeding an important ‘external’ peak at 1271.80 recorded December 6 on the way down. This refreshed the bullish impulsiveness of the hourly chart, creating a possible ‘camouflage’ entry opportunity in the process. I’ve sketched it hypothetically in the accompanying chart (click on inset) and would encourage any night owl who understands the opportunity this set-up would create to exploit it with a ‘conventional’ entry at ‘x’. At press time, the tentative point ‘C’ low was 1269.90, implying a long entry would trigger at 1270.60. If the futures ease lower, particularly if this generates a new point ‘C’ low falling within 0.50 or so of A= 1266.00 (1221.00 at 9:00 a.m.), you can fashion a ‘counterintuitive’ entry trigger. _______ UPDATE (Dec 22, 9:25 a.m.): The trade triggered at 1270.00 (1:00 a.m.) and is targeted on a minimum 1274.90. As always, we should want to see a pop through a Hidden Pivot resistance if we’re going to continue to give bulls the benefit of the doubt. The next important resistance, from a 12/4 peak, lies at 1280.50, and a move past it would be most encouraging.
