Gold’s downtrend stalled yesterday between two minor, bearish Hidden Pivots, but not before the June contract had taken out three more external lows. This is discouraging action for the near term, and it suggests the 1702.00 target given here earlier remains a good place to look for a tradable low. Alternatively, we can set the bar at 1747.50 (see inset) today to signal a meaningful resurgence of bulls. ______ UPDATE (2:33 p.m. EST):  The April contract has rallied nearly $40 from this morning’s fake-out low, creating a bullish impulse leg on the hourly chart. Now, assuming 1752.60 holds as ‘B’ of the current impulse leg, Gold will need to pull back by at least $12.50 (0.625 of $20 k-A segment) to be considered fully re-charged for a C-D follow-through  leg of as much as $40.