Sellers were unable to drive this vehicle down to a Hidden Pivot correction target at 1347.40 yesterday, implying they may be running out of steam after a two-day dump. Even so, yesterday’s 1351.10 low generated a bearish impulse leg, since it exceeded an ‘external’ low at 1354.30 recorded a week ago. This could provide an opening to buy the futures via ‘camouflage’ Tuesday night, since they are oscillating around a 1356.00 midpoint pivot that is a logical place for a bounce to occur. An easier play would be to bottom-fish at its Hidden Pivot sibling, 1349.30, assuming that it’s reached. An initial stop-loss as tight as 1348.90 could be used. This tout is visible only to subscribers, so night owls should try to make hay with the ‘exclusive’ 1349.30 target if the opportunity should arise. ________ UPDATE (10:45 a.m. EDT): The bad guys have in fact sacked gold for a third consecutive day. Now, look to do your buying at 1330.90 (see inset), which is where this vehicle is going before it turns around. _______ UPDATE (2:51 p.m. EDT): After plummeting $27, April Gold bottomed at 1331.10, two ticks from my target; then it bounced $5. In the chat room, I advised partial profit-taking for anyone who got aboard near the low.
