GCG24 – February Gold (Last:2051.60)

Feb Gold’s bounce from the green line took time to develop and is still not airborne. But the uptrend should at least reach the red line, validating the strong ‘mechanical’ buy signal that triggered on the pullback.  We are used to disappointment in this vehicle, and impatient about when the long-term bull market will once again shift into high gear. When it does, the next target of consequences above the one at 2184.80 show in the chart lies at 2273.60, a Hidden Pivot resistance derived from a continuous monthly chart where A=681 in 2008.