I called up a 240-minute chart to try to prioritize numerous corrective abc patterns that could send Gold prices at least somewhat lower in the days ahead. Most immediately, we should use 1750.10 as a minimum retracement objective. The pattern associated with that Hidden Pivot support is shown in the chart. However, its decisive breach would put a more important Hidden Pivot at 1709.20 in play. That’s a high-odds number where we could plan on buying aggressively, since it was confirmed by yesterday’s bounce almost precisely from its midpoint sibling at 1771.50, a downside target drum-rolled here last week. Alternatively, the December contrct would need to touch 1840.10 today or tomorrow for bulls to take charge. That’s a tick above a small peak made last Wednesday on the way down.
