Gold appears to be headed down to a Hidden Pivot at 1375.5, if not lower.  On Thursday gold bounced precisely off of the midpoint of a pattern that had been identified beforehand in the chat room and in the morning webinar.  The subsequent rally peaked more than thirteen dollars higher, but a sharp twenty-seven-dollar selloff followed.  The pattern’s “D” target of 1375.5 is now our minimum downside objective.  Traders buying the target should put stops just below 1375.0.  If Wednesday’s low of 1382.2 is not touched or surpassed – and it has thus far survived two vigorous assaults – then a pair of upside targets including 1431.6 will remain active.  (Posted by Doug McLagan) _______ UPDATE (Saturday, November 13):  “If not lower” turned out to be the key phrase of this tout.  The futures bounced from 1377.3, missing our target, and after a seventeen-dollar rally they went into a steep thirty-five-dollar dive, slicing through the target and cancelling the bullish pattern referenced in the tout.