The chart leaves little doubt that June Gold will achieve the 5144.00 target, a Hidden Pivot. If it takes as much time to get there as it did to complete the A-B impulse leg, this should happen within the next ten days or so. A pullback to the green is not inconceivable; it would add more time to the ascent but would also be a gift, since the ‘mechanical’ buy signal it would trigger would be of the highest quality. Our main concern should be price action when the uptrend reaches ‘D’, since a decisive move past it would imply significantly higher prices lie ahead, starting with a test of January’s all-time high at 5666.
GCM26 – June Gold (Last:4740.90)
