Yesterday’s gratuitous spasms created a new point ‘C” for the uptrend begun last Wednesday, slightly lowering our bullish benchmark to 958.60 from 959.50. That’s a Hidden Pivot midpoint, and because the pattern that produced it is not a minor one, we should require a two-day close above it before we infer that the rally will complete to its 1001.10 target. Alternatively, if Gold gets hit today, we could look for a bounce from 913.40, or from 904.10 if any lower. The second number looks like the better place to try bottom-fishing, which could be done with a stop loss as tight as 903.30.
