Selling at the tail end of yesterdays session shaved a third off Monday’s ‘Nank-induced rally (not that he intended that bullion be a beneficiary of QE3 bloviations).  The weakness has continued into Tuesday night, breaching a 1677.60 midpoint support by enough to imply that its ‘d’ sibling at 1669.90 will be reached. Accordingly, I’ll recommend ‘camo’ bottom-fishing on the three-minute chart or less if and when the target is closely approached. If you want to do it the easy way, but with more risk, bid 1670.10 for two contracts, stop 1669.60.  Since your initial risk is a theoretical 50 cents, you should plan on exiting half the position on a rally to 1671.60. Note:  The equivalent ‘D’ target for the June contract is 1672.90.  _______ UPDATE (9:34 a.m. EDT):  June Gold rallied $7 after bottoming within two ticks of the 1672.90 target. Assuming four contracts bought and a partial profit on half at 1674.40, we hold two with an effective cost basis of 1671.40.  Now, offer one to close at 1679.80, a tick below a clear target on the 3-minute chart, but make the order o-c-o with one to exit both contracts on a stop at 1673.40. (Note:  The April contract missed its target by only one tick, allowing trades to get long with a stop-loss as tight as three ticks. I’ll track two remaining contracts with an effective cost basis of  1668.50. This assume a partial profit taken on two at 1671.50.  Tie them to a 1670.90 stop-loss, o-c-o with an order to close out one more contract at 1677.10.) _______ FURTHER UPDATE (10:05 a.m. EDT):  A rally has taken us out of a third contract, either April or June, by exceeding their respective ‘D’ targets.  We now hold either a June contract with a profit-adjusted cost basis of 1663.00, or an April contract whose effective cost basis is 1659.90.  For now, tie the June to a 1669.00 stop-loss, the April to one at 1666.20. Immediate upside potential for the latter is 1708.30, provided the futures decisively exceed its p sibling at 1689.20 without breaching the 1670.00 point ‘C’; and for the former, 1710.80 if C=1672.70 holds and p=1691.80 is decisively exceeded. _______ FINAL UPDATE: We exited on the suggested stop for a theoretical gain of about $600 per contract.