It took gold four tries on the hourly chart this week to take out the panic low at 1135.80 recorded on  November 27, so we should still not be entirely impressed by this selloff. Hidden Pivot aficionados will probably come up with a 1094.30 target, using the ABC coordinates shown in the accompanying chart. That might prove to be the case, but ‘B’ is pure sausage as far as I’m concerned — indicative of a downtrend that lacks real guts. If you want to be sure, I’d suggest monitoring the lesser abc patterns on the 3-, 5-, and 15-minute charts. For bulls, the good times would begin to roll on the 3-minute with an 1140.50 print.