With the decisive breach of the 1593.30 midpoint support shown in the chart, the futures appear to be headed down to at least 1571.00, its ‘D’ sibling. Please note, however, that an uptrending reversal without having reached that number would be warning shorts to step aside. The bullish scenario would be actualized by a push past the midpoint resistance of a larger, bullish pattern begun on December 15 from 1566.20. ______ UPDATE (10:42 a.m. EST): Gold is getting hit today and was down $25 at its so far low — 50 cents from my target — at 1570.50. If you camo’d your way aboard near the bottom, keep in mind that a decisive breach of the so-far low would portend more slippage to as low as 1445.70 (!), a very important Hidden Pivot that comes from the daily chart (A=1760.50, B=1562.50 and C=1643.70.)
