The yellow flag is out, since the drubbing December Gold received on Sunday pushed it well beneath a clear target at 1390.10 that had served as our minimum downside objective. This portends more weakness, presumably at least to the 1382.80 midpoint support shown in the chart. Any lower, however, and we should brace for more selling to at least 1367.20, or perhaps 1355.60 if the first number is smashed.

All of these numbers are Hidden Pivot supports, and each can be leveraged for the purpose of ‘camo’ bottom-fishing. I’d suggest using charts of 5-minute degree or less, keeping entry risk limited to no more than five ticks theoretical.  My gut feeling is that this selloff is gratuitous — a mechanical reaction to the important rally target at 1328.80 where we’d expected tradable resistance. The correction would begin to look more serious on a print today or tomorrow below 1351.60, since that would generate a robustly bearish impulse leg on the daily and larger intraday charts