A bullish pattern similar to the one I’ve identified in today’s Gold tout points to at least 41.255, a Hidden Pivot target that should be regarded as an odds-on shot now that the futures have exceeded its ‘D’ sibling at 40.790 early Sunday evening (EDT). For night owls wanting to joining the party belatedly, the best opportunity to get long via ‘camouflage’ would come on a B-C pullback from just above the 41.170 peak-let noted in the chart. _______ UPDATE (12:58 p.m. EDT): Silver has gotten thwacked worse than Gold today, taking out Friday’s lows without even having reached the midpoint resistance of the minor rally pattern noted above. The implication is that it could fall to as low as 38.400 over the very near-term. If so, that will be an excellent place to try bottom-fishing with a tight stop-loss. The target comes from the following coordinates, all nicely visible on the 30m chart: A=42.760 (a one-off peak recorded on September 9); B= 39.750 (September 12 low); and C=41.410). The fact that the downtrend crushed the 39.905 midpoint of this pattern makes further weakness likely.
