News of a U.S. air strike on Syria has goosed June Gold to within easy distance of the 1275.80 Hidden Pivot we’ve been using as a minimum rally target for the last week. The target and the pattern that produced it are sufficiently clear that we should expect a stall precisely at 1275.80. However, if the futures get past it easily, especially if this occurs within hours of first contact, that would imply the trend is likely to continue. It would also be reason to regard any pullback from above the target as a buying opportunity. In the meantime, night owls can use p2=1267.20 (aka the secondary pivot) to set up a ‘mechanical’ bid, stop 1264.30. Do not attempt this trade unless you are familiar with the simple rules we use to determine whether a proper pullback to the pink line has occurred.
