Achieving a modest rally target at 32.775 is proving to be quite a task, although a newly feisty gold appeared to be tugging this vehicle higher early Tuesday evening. The midpoint resistance associated with 32.775 lies at 32.110, and so any slight progress above it would have tradable implications for the near term. Ideal camouflage would come from a stab higher that creates a minor ‘B’ peak between 32.150 and 32.285. For your guidance, I have sketched this out hypothetically in the chart. _______ UPDATE (10:27 a.m. EST): The rally was too quick and strong to catch via camouflage, gapping through a hypothetical entry point at 31.445 that triggered around 8:05 a.m. The camo pattern went on to exceed its target by a country mile, creating a larger pattern with a target, unachieved at this moment, of 32.990. The action remains bullish because the larger pattern has exceeded its 32.440 Hidden Pivot midpoint. The futures are oscillating around this number at the moment and are therefore a ‘camo’ buy.
