With yesterday’s moderate selloff, August Gold approached a ledge from which it could fall a further $135, to a longstanding target at 1219.40, before finding a good bottom.  ‘Camouflage’ traders should position from the short side for now, but if you’d rather watch from the sidelines with fingers crossed, it should be with the hope that buyers push this vehicle above 1370.00 today.  That would turn the lowly one-minute chart impulsively bullish, which, although not much, would be a step in the right  direction. _______ UPDATE (4:05 p.m. EDT):  Nothing to encourage today; for in fact, the futures effortlessly crashed a minor HP support at 1353.60 that I’d flagged in the chat room. As noted here earlier, the 1219.40 bear-market target will become no worse than an even-odds bet if and when August Gold closes for two consecutive days beneath 1353.70.