With the soon-to-expire December contract just inches from a longstanding target at 1044.50, the February futures have somewhat farther to fall to reach an important target of their own at 1035.70 (see inset). It is of a lesser degree, but potentially useful to us because it is so clear and compelling. The implication is that it can be bottom-fished with a tight stop-loss in expectations of a strong bounce. If the futures surprise by smashing the support on first contact, however, or if they relapse and breach the support after rallying for mere day or two, that would be quite bearish. A long-term target at 817.40 would remain theoretically in play in any event, but odds of it being achieved would shorten if the Hidden Pivot support at 1035.70 proves to be a pushover.  Please note as well that I advised covering a short position in December gold on Friday that had an $1176 basis. The theoretical gain would have been $12,000 per contract, based on a holding time of slightly less than one month._______ UPDATE (December 3, 7:46 p.m. EST): I’ve established a tracking position in the December futures (see above) — long four contracts from 1048.00 — but if you bought the February contract instead, please let me know in the chat room so that I can price it to reflect the actual experience of subscribers. It is the February position that will be carried forward in any case, and so I have advised those who hold a position in the Decembers to roll it forward.