The selloff from the 108.07 high recorded on November 22 has exceeded any minimum downside target I could have projected at the outset.  Also, the high fell a whopping 91 cents shy of my 108.98 upside objective, and that is another reason I’ve given this correction wide berth with the big pattern shown and its ‘locked’ point ‘a’ high. The chart implies the downtrend is bound for a minimum 104.91, the pattern’s midpoint Hidden Pivot support. Expect a tradable reversal from there, but if it is short-lived, or if the support is decisively penetrated on first contact, it could signal an important tone change in the bull cycle begun in early October. Since gold has been moving higher with the dollar, we might expect bullion’s uptrend to accelerate if the greenback continues to fall.