Comex Gold Futures

If Gold is setting up for a big thrust, it shouldn't have to correct any further before taking on the 970.00 peak recorded on March 20. That means no prints below 952.80 today, since that would insert a b-c correction into the impulse leg begun from 915.20 on May 18. The impulse leg as it exists so far is fairly strong and should be able to push the June contract to $1000, but it is what happens after that that is our main concern.

____ should be used as a minimum upside objective for the near term. This is the Hidden Pivot (HP) midpoint of the pattern begin from 805.20 on January 15. The 180m chart offers a nice panoramic view of the pattern. If you work the numbers you'll find that the 'D' target associated

Based on the pattern shown in the chart, the June contract looked like a good bet to push up to at least _____, a Hidden Pivot, but anything above it would indicate _____. If the higher number gives

We'll breathe easier when the futures finally push above 935.80, but the significance of the move won't be as bullish as before, since the rally has been interrupted by a so far three-day correction from the recent high at 934.80. I hesitate to read too much into it, but

An hour-long bounce yesterday from a Hidden Pivot at 918.10 that I flagged in the chat room ended ignominiously with a relapse to 915.20. This implies the futures will now fall to at least _____, a Hidden Pivot that you can bottom-fish with

Our bullish benchmark is still _____, a tick above an unimposing but nonetheless important peak that was created April 1 on the way down. However, if a test of resistance at $1000 lies shortly ahead for the bull cycle begun in mid-April, the futures should

It would be hard to say whether the tepid rally of the last three weeks has been more aggravating for bulls or bears, but the former should continue to use _____ as a go-ahead signal, since that's what it would take to turn

The Hidden Pivot at _____ was a logical place for yesterday's rally to top, so we shouldn't be overly optimistic coming in this morning, since Thursday's spiky high at 931.40 missed our number by

The June contract is taking its sweet time getting to a ____ target that should have been a piece of cake. Still, there are no troubling sign of weakness, and so we should continue to presume in favor of the bulls. If this tiresome consolidation eventually develops enough thrust to reach the _____ pivot, there would