Bulls will need to push this brick up to the green line (x=4173.40) to earn the benefit of the doubt. That would trigger a ‘conventional’ buy signal with immediate potential to hit the midpoint Hidden Pivot resistance (p) at 4371.30. The two-day rally that ended the week was a feeble start, but buyers could be emboldened if the dollar index’s so-far moderate downturn from an important Hidden Pivot rally target at 101.78 gains momentum. ______ UPDATE (Jun 29, 12:42 p.m.): The bad news that I somehow neglected to provide on Sunday is that ‘this brick’ is likely headed down to at least 3822.70, a further fall of 4.2% from a current 4035.
GCQ26 – August Gold (Last:4035.00)
