Gold wasn’t quite believing the weakness in the dollar or it would have racked up an even bigger gain on the day. Even so, each of the three upthrusts that occurred Tuesday exceeded a prior peak, refreshing the bullishness of the intraday charts and suggesting that higher prices lie ahead. By day’s end, the December contract had slightly exceeded a 1904.20 target I posted in the chat room. This was neither bullish nor bearish, but the so-far shallow pullback to 1899.60 is. Let’s see how bulls do over the next day or two dealing with thick supply between here and 1925.00. _______ UPDATE (Oct 1, 6:07 p.m. ET): Just a little more push will connect with the 1921.90 Hidden Pivot target shown in this chart. A decisive move past it on first contact would be bullish.
GCZ20 – December Gold (Last:1910.80)
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