Gold will have to get through a cluster of Hidden Pivots just above the rally high of 1256.6 in order to challenge its all-time peak; a print of 1262.6 would tell us that the challenge is imminent.  Four different “A” points on the recent gold charts yield a series of pivots, ranging from 1257.0 to 1262.3, which are so tightly spaced as to present difficulties to traders.  If pressed we would focus on the highest two, a midpoint pivot at 1261.6 (A=1211.7) and a “D” target at 1262.3 (A=1233.5), and we would not use a stop any lower than 1262.6.  On Friday our earlier “D” target of 1267.2 was cancelled, and at present we don’t see any other meaningful pivots below the all-time high of 1270.6.  Should the market head lower, we will have to find our support levels with the help of the short-term patterns that emerge.  (Posted by Doug McLagan)