With this evening’s robust extension of the rally begun from 1238.30 three weeks ago, buyers have finally made February Gold’s chart look interesting — encouraging, even. The move earlier in the day through the 1314.00 midpoint resistance, coupled with the so-far slight progress tonight above September’s 1321.00 ‘external’ peak, has put the 1389.60 target of the pattern in play. It would become a strong odds-on bet to be reached if the futures are able to close above the red line for two consecutive days or to trade above 1330.00 intraday. Regardless, any pullback in the days/weeks ahead should be viewed as corrective and therefore a buying opportunity. Stay close to the chat room, or check ‘Email Notifications’ on your account dashboard if you want to stay apprised of any such opportunities in real time. _____ UPDATE (Jan 3, 8:55 p.m. EST): The usual scuzzballs sacked the futures just when the rally was starting to hum. But let’s face it, gold has been on a tear and was overdue for a pullback. Despite the weakness that ended the day, the rally that preceded it accomplished what we wanted it to accomplish when it exceeded a key external peak at 1321.00.  This means that any further weakness in the days ahead should be viewed as corrective — i.e., a buying opportunity. Bulls will need to push above p=1314.00 and stay aloft for at least a couple of days before I sound the all-clear for a likely run-up to 1389.60.