Yesterday’s dip brought the futures to within $1 of a very important Hidden Pivot support at 738.80, but if it’s breached by more than $3 intraday, or if the futures close beneath it for two consecutive days, that would be warning of more downside to at least 628.00. For all we can tell at this point, the 738.80 low recorded yesterday could be Gold’s worst moment for the next fifty years. But we’ll need to start seeing some bullish impulse legs on the lesser charts to ease our suspicion that the worst may not in fact be past. For today, that would imply a thrust exceeding 763.10, a tiny but nonetheless significant “external” peak shown on the accompanying chart. (Note: The pivot at 731.60 can still be bottom-fished with a stop-loss as tight as 730.90.)