An aging target below at 1187.60 looks like it’s finally about to get hit, but if you go bottom-fishing there be careful, since an overshoot of as little as 0.50 would open a path to as low as 1166.70, an alternative Hidden Pivot target calculated by sliding down to the lower B-C shown. Alternatively, it would take a rally exceeding 1236.70 today or tomorrow to suggest this brick might be meaningfully turning around. _______ UPDATE (February 24, 8:20 p.m.): Gold’s herky-jerky price action and phony rallies have become almost too annoying to care about. Be that as it may, the futures have been up as much as $12 Tuesday night, even if they’ve yet to take out any significant prior peaks. If the rally continues, however, surpassing 1210.30 (see inset, a new chart), a pullback from just above that number could offer night owls an excellent opportunity to climb aboard with entry risk under tight control.
