We took a hard look at gold’s charts yesterday in several time frames, concluding that the selloff then in progress, nasty though it may have seemed, was as harmless as a dust bunny. We also noticed that the intraday low at 1223.10 was more precisely predictable than I’d known earlier, since it fell exactly on a Hidden Pivot target.  I used a one-off point ‘A’  in my calculation, but if I’d substituted the obvious peak instead, the forecast would have nailed the low to-the-tick.  Concerning gold’s immediate prospects, I doubt that investors can continue to ignore the urgent press of events for too much longer, and that is why we will look for every possible opportunity to buy near these levels. The most obvious pattern on the hourly chart projects to 1265.50, with an entry trigger at 1233.70 (where August gold is trading at this very moment).  However, the futures are showing no particular energy right now, so I can’t recommend arbitrarily jumping on the trade. Instead, I’ll suggest looking for camouflage opportunities if and when a rally brings buyers into the mine field of peaks shown in the accompanying chart. FYI, the midpoint pivot of the pattern that projects to 1265.50 is 1244.30, and any move decisively past that resistance would imply the futures are on their way to the higher target.