The village idiot wouldn’t be fooled by the blatantly distributive quality of Gold’s recent price action: three days of tortuous, mincing steps higher to recoup ground that was lost in just a few hours last Thursday. You can watch from the sidelines — or more aggressively, short this brick on a camo-signal from the lesser charts. As of the moment, it would require an impulse leg exceeding low #1 (1657.30), though not #2 at 1653.00, before we’d take an interest.  If you’d prefer to be bullish, set the snooze alarm for 1677.90, since that’s where a bullish impulse leg would be generated on the hourly chart. Click here for information about the upcoming Hidden Pivot Webinar and a $50 discount.