A Hidden Pivot target at 1391.30 is still my minimum upside objective for the near term, although the ascent to it has been untradable for anyone managing risk methodically. The price action has been dispiriting, especially with weakness in the dollar as a backdrop. A pop today to 1397.60 would be reason to take encouragement, although nothing to get excited about. I still see price action in Gold as a lazy consolidation, but a dip below 1352.00 would be reason for concern. _______ UPDATE (10:43 a.m. ET): The futures made it to 1392.90 overnight before falling back $13 in their accustomed fashion. If the familiar pattern holds, they’ll be buoyant for the rest of the day, but not buoyant enough to reach new recovery highs.