$GC09J April Gold

april-golds-night-potentialShortly after midnight, the futures were working on a modest rally that promised to deliver 903.60 provided a Hidden Pivot midpoint at 900.20 can be surmounted. It would take a bit more than that, though, to turn the 15-minute chart bullish. Specifically, a print at 904.80 would create an impulse leg with the potential to push the futures above  Tuesday’s highs near 920. The foregoing does not negate  downside targets given here earlier, the lowest of which is 881.90. It can be bottom-fished with a stop-loss as tight as 880.90. There’s a second Hidden Pivot support at 886.40 that is also capable of engendering a tradable bounce, but be ready for more weakness if it’s exceeded by more than a point or so within five minutes of first being touched. Both targets are shown in the chart at left, which is more detailed than the one included with today’s commentary.