It’s a challenge to keep bullion touts up-to-date, what with all of the gratuitous ups-and-down that have turned a docile bull market into a daily Donnybrook. The 1652.00 target given here earlier is the one we should keep in mind, but as far as the day-to-day, we’ll need to compose each tout using a fresh slate, as though nothing interesting had happened the day before. For today, that approach begets us the 1616.80 target shown, subject to midpoint interference at 1598.50. That Hidden Pivot resistance is not putting up much of a fight, the futures having exceeded it in after-hours trading by 3.90 points. My bias is therefore bullish; however, night owls will not find much cover using the peaks made Tuesday on the way down, since they are all of a piece with the primary top at 1610.70.
