GCG26 – Feb Gold (Last:4539.80)

February Gold has a clear path to at least 4532.70 over the near term, a midpoint Hidden Pivot resistance. Price action there cannot but provide an accurate ‘read’ on trend strength, as well as a reliable idea of the speed and likelihood of a further rally to the conventional pattern’s ‘D’ target at 5132.20. That is likely to be an important number for gold, and we shouldn’t assume the futures will surpass it. That would leave gold well shy of the fantastic heights long predicted for this bull market by some seers. _______ UPDATE (Dec 23, 9:15 p.m.):  Tonight’s easy move through the 4532.70 target advertised above has shortened the odds that the rally will continue to at least 5132.20, a potentially important Hidden Pivot target.