Shortly before midnight, April Gold has pushed slightly past a minor target at 1579.40, so we’ll infer that the larger pattern shown is in play. Its target is 1590.60, with a 1579.70 midpoint that is this evening’s so-far high. Assuming it’s surpassed, camouflageurs can use any one of several peaks that emerge clearly on the lesser intraday charts to get long. Note that it would take an additional push exceeding 1596.50 (a peak recorded last Thursday on the way down) to refresh the bullish impulsiveness of this chart. _______ UPDATE (8:17 p.m. EST): Zzzzzz. Wake me if the tedium ever ends. So that we’re not fooled into a state of attentiveness, let’s stipulate that any rally worthy of our eyes exceed the required two prior peaks without a b-c pause on the hourly chart. Currently, it would take a print today at 1596.60. Alternatively, if the futures resume their familiar downward trek, skip the Hidden Pivot calculations and focus on the obvious structural support of the 1554 low recorded on January 20. ______ UPDATE (March 6, 7:40 p.m. EST): On the 15-minute chart, gold impulsed above a 1584.40 peak from Tuesday, then promptly negated the bullishness of this by creating a minor, bearish impulse leg. Bulls hold a short-term edge nonetheless, and camo traders can pursue it via the pattern shown. It’s subtle enough for our purposes because of the failure of the point ‘B’ high to surpass Tuesday’s 1585.80 peak.
