Feb Gold has been the unwitting slave of  the bullish pattern show, with a 2250.00 target that has been in play since mid-October. The bounce off last week’s low was encouraging, since the futures managed to finish the week with a gain that left it comfortably above the midpoint of the weekly range. Nasty takedowns are still possible, but $2000 may have become a floor beneath which bulls would swarm thin, insincere offers. _______ UPDATE (Dec 19, 1:47 p.m.): I said in the chat room that Feb Gold would hit 2086, but Martin Armstrong’s cautionary cited in the chat room has reminded me that I should wait for that to happen instead of pretending I have a crystal ball that says it will. The chart is mildly encouraging because the recent high at 2152 impulsively exceeded May’s 2140 peak. That means the subsequent plunge to 1987 was/is corrective. But there are no guarantees that the theoretical buy signal at x=2037 will get the futures to p=2086.4. I do hope this happens, however, since price action at p can tell us a lot about the health and sincerity of the uptrend since October. In theory, the bullish impulsiveness of the weekly chart could survive a plunge all the way down to 1845, even if few bulls would be left standing to cheer it.