Gold’s rally continues to lack the vigor of Silver’s, so I’ve used a relatively modest target for today at 1225.30 (see inset). The trip should be a piece of cake, judging from the way buyers speared the 1204.00 ‘midpoint Hidden Pivot’ resistance early in Tuesday’s session. Were the April contract to blow past 1225.30 as easily, we could raise our sights to 1255.60, a target that would become an odds-on bet following a two-day close above 1219.10. Night owls can position for a ‘mechanical’ buy at 1204.00, stop 1196.90, if the futures pull back to the green line. Otherwise, there is still one more ‘external’ peak at 1220.30 (1/24) that can be used to craft a lower-risk ‘camouflage’ entry. _______ UPDATE (Feb 1, 9:40 a.m.): We’ll respect the selling because it looks punitive. Bring the mechanical bid down to x=1193.30, stop 1182.50. We can still attempt to get aboard at p=1204.00, but I would suggest doing so only with a ‘camouflage’ entry.
