Gold became a fetching ‘mechanical’ short, stop 1150.60, after breaching the 1148.20 midpoint support shown and rallying back up to it. The implied objective is p2=1141.00, but any significant breach (i.e., by $3 or more) of that Hidden Pivot would portend further slippage to the D target of the pattern, 1133.90. The daily and weekly charts remain bullish, as noted here yesterday, and that wouldn’t change unless the selloff comes down to 1097.60, $50 below the current price.
