Gold can be bottom-fished at either of the ‘D’ Hidden Pivot targets shown, but my strong recommendation — to repeat the point — is that you attempt this only if you’ve been short for the ride to the target. If you’d rather watch from the sidelines, or if you are taking a prayerful wait-and-see stance, please note that a breach of a Hidden Pivot support indicates that more weakness is likely. In this case, because the 1198.40 target has been six months in coming, we should expect it to evince not only a tradable bounce, but a sustained one of at least 7-10 days’ duration. Any less would be fresh evidence that a bear market now entering its fourth year is not yet over. _______ UPDATE (Sep 16, 11:41 p.m. EDT): Bulls and bears went into ‘dueling mode’ after the futures impulsed bullishly on the hourly chart, so the jury is still out on this rally. In any case, the recommednation to bottom-fish at 1198.40 should be put on hold for the time being. _______ UPDATE (Sep 18, 1:30 a.m.): Gold has relapsed yet again, putting the downside target and the recommendation above back in play.
