The futures crushed a 1245.90 Hidden Pivot support on the hourly chart, implying there is more punishment in store for bulls. If so, a test of support near the May 9 low at 1220 seems likely. It is a more compelling downside target than any Hidden Pivot support I could offer you at the moment. If a low-risk buying opportunity looms, it will likely be by way of a ‘counterintuitive’ signal generated by a bounce off a low near 1220. We’ll monitor August Gold’s vital signs closely in any case, but it would take a rally exceeding 1268.50 to suggest bulls are turning things around