Very impressive indeed. The futures backed off our upper target yesterday by $40, only to come roaring back by $56 to make a new intraday high. The high occurred just $1 from the target shown, suggesting that although this phase of the bull market may sometimes seem diabolical, it is actually impeccably behaved from a Hidden Pivot perspective. Traders should probably do their targeting on the three-minute charts or less, since Gold’s rallies are becoming increasingly fleeting, its pullbacks more and more punitive. For timely analysis, though, let me proffer as a minimum upside objective for the near term a 1957.50 target that comes from the 240-minute chart. Here are the coordinates for your further information: A=1585.90 (July 22); B=1817.60 (August 10); and C=1725.80. Alternatively, a subtle warning signal would be flashed on a print overnight below 1883.30.
