GCM09 – Comex June Gold (Last:922.00)

An hour-long bounce yesterday from a Hidden Pivot at 918.10 that I flagged in the chat room ended ignominiously with a relapse to 915.20. This implies the futures will now fall to at least 911.50, a Hidden Pivot that you can bottom-fish with a stop-loss as tight as 910.90 Please note that a print  exceeding 924.80 would negate this target while turning the minor trend not-very-persuasively bullish.  The bigger picture remains bullish and was unscathed by yesterday’s price action, such as it was. One might surmise that precious metals were fatigued from watching the world’s bourses celebrate the regime of paper money by making Goldman Sachs shares the star of their blanket-toss.