Before going into last week’s slide, the Gold Bugs Index cleared a late August peak to create a fresh impulse leg on the hourly chart. This suggested that HUI was headed to at least 372.75, a Hidden Pivot target that lies 13 points above the so-far recovery high, 359.79. There were no clear markers to use for bottom-fishing on this correction,, although the right-most portion of it pointed to a potentially tradable low at either 326.83; or if any lower, 316.18.