The 1321.20 target given here yesterday caught the low of yesterday’s $16 swoon within 60 cents, advantaging any subscriber who took the initiative to get long. My gut feeling, noted here yesterday, is that February Gold will trade below $1300 before this shakeout ends.  However, we’ll put feelings aside, as we nearly always do, and focus purely on technicals that point most immediately to 1339.50. Although that’s just $6 above current levels, the futures appeared to be struggling at around 10:45 p.m. EST.  However, because they’ve exceeded the 1334.00 midpoint resistance by 70 cents, odds favor a second-wind push to the target.  If the correction takes another leg down, night owls can try bottom-fishing at 1331.40, stop 1330.90.  The downside target is corroborated by the bounce tonight from within a tick of its sibling midpoint, 1332.40. _______ UPDATE (10:03 .a.m. EST):  Yet again, a modest rally has died overnight — in this case after failing not only to reach an “easy” target,” but without having dispatched a look-to-the-left peak made Tuesday on the way down. All of this points lower.  _______ FURTHER UPDATE (3:55 p.m. EST):  Although this is almost unheard of, the futures have exploded in the final half of the session, rallying almost $2o while creating a mildly bullish impulse leg on the hourly chart.