The nasty dive into yesterday’s close projects to at least 721.00, but if the futures slip beneath that Hidden Pivot support, we could expect them to continue down to at least 704.10. The target can be bottom-fished with a stop-loss of less than $1, but it will be less risky to attempt it if 704.10 is hit overnight. _______ UPDATE (8:25 a.m. EST): Gold has turned higher without having reached the 721.00 downside target identified above. This would ordinarily be a bullish sign, except that in this case the reversal has not created an impulse leg on the hourly. Also, the “premature” bounce may have been due, not to Hidden Pivots, but to the visually obvious support of lows near $722 recorded earlier in the week. While the futures show little inclination to fall to new lows (i.e., 704.10), neither do they seem eager to complete rallies to their ‘D’ targets. This appears to be true in all time frames, down to the little stuff.