The pattern highlighted in the chart continues to trumpet a target at 1140.10, a by-now familiar Hidden Pivot support that can be bottom-fished aggressively with a stop-loss as tight as you can handle. Traders should be alert for a potentially tradable bounce from 1155.00 as well, since there’s a lesser pattern with a ‘d’ target at that price.  That last number should be considered our minimum downside projection for the near term, although the bearish outlook is nothing that a thrust to an old and familiar look-to-the-left peak at 1222.90 wouldn’t cure. _______ UPDATE (2:50 p.m. EDT): Gold plummeted $26 this morning, bottoming at 1156.90. While this came pretty close to out target, it was not quite close enough to trigger a bottom-fishing bid (which you should cancel in any event).  The target remains valid, but the so-far feeble bounce lends even more weight to the 1140.10 target.