GCJ10 – Comex April Gold (Last:1096.60)

With whacky swings intraday, the futures have so far resisted the magnetic pull of a 1014.20 downside target given here earlier. They could shoot up to 1085.10 today, or even as high as 1102.40, if this condition persists.  However, if sellers return in force, the first place we could try bottom-fishing aggressively would be 1042.80, the Hidden Pivot midpoint of the pattern shown in the chart. _______ UPDATE (1:22 a.m. EST):  Although the dollar was getting whacked early Thursday morning, Gold was not reciprocating.  Bullion seems likely to win this showdown, but it is evidently going to take more than the 0.32-point drop that has occurred so far tonight in the Dollar Index (DXY) to stoke the requisite buying. ______ FURTHER UPDATE (3:06 p.m. EST):  1102.40, here we come!  This Hidden Pivot target was not proffered as a great place to get short, but rather as a bullish price objective to buck up anyone thinking about getting long on the way up.  The pattern itself is a rule-breaker, as I’ve tried to make clear, and the target is therefore not a high-odds place to jump in the way.