It is puzzling that bullion seems to need stocks to fall in order to rise. Still, we’ll take any gains we can get, and they’ve been pretty decent lately. My minimum upside target for the rally begun on New Year’s Eve is 1278.90, a Hidden Pivot target shown in the chart. Achieving that number shouldn’t pose a problem for bulls, but we should want to see them do better by blowing past it with ease. The last $15 theoretical of this move could prove tradable for night owls, since, even on the 60-minute chart, there are some handholds for a ‘camouflage’ entry. (I’ve labeled the tradable pattern for your guidance, but the actual entry should be pursued on a chart of lesser degree and with the goal of holding theoretical entry risk down to five ticks or less per contract.)
