If gold is finished with its pullback, it will soon confirm important new bullish targets at 1431.6 and 1481.0. Yesterday’s forty-two-dollar decline in the gold futures from an all-time high has created a pattern with striking symmetry between the pullback and last week’s “kA” segment. If the “C” point at 1382.3 holds and the futures move back up, they will confirm this new pattern and the aforementioned targets, as pictured in the attached graphic. The odds of this happening will be diminished if gold trades down a few dollars to 1392.3 and does not revisit the current session high of 1402.9. This would confirm a smaller, bearish pattern which was initiated by the drop yesterday and would suggest a move down to 1381.9, a midpoint pivot, and to 1360.8 if the midpoint gives way. This midpoint would be a risky trade, as it is just below the “B” point made by yesterday’s low, but the sibling “D” target of 1360.8 can be bought with an order a few ticks higher and a stop at 1359.9. Pivoteers should recalculate the targets if 1402.9 is surpassed, thus moving the “C” point higher, and a decline follows. (Posted by Doug McLagan) _______ UPDATE (9:45 a.m. ET): The bullish pattern has been confirmed, and the bearish pattern has been activated with a higher “C” point of 1410.0. Buyable pivots are now at 1389.0 and 1367.9, so long as 1410.0 holds.