February Gold (834.70)

In thin trading Thursday night, the February contract made a tentative stab below a minor midpoint support at 846.50, hinting of more downside over the near term to as low as 831.60. That’s a Hidden Pivot support, and it looks like a decent spot to attempt bottom-fishing if the midpoint has gotten crushed overnight. (The opportunity to bottom-fish the midpoint itself is already stale. It could have been be done with an initial stop-loss as tight as 845.90.) You’ll be on your own if you get long, but don’t hesitate to take a partial profit, at least, on a bounce of as little as $2.50-$3.00. If the midpoint holds, the rally would become doubly credible on a print at 866.00._______ UPDATE: You could have gotten long within $1.00 of the low, since Gold plummeted overnight to 830.10 before rebounding to as high as 842.70. My apologies for the error in my original instructions — a seemingly unavoidable byproduct of too many 14-hour workdays.