August Gold failed by more than $2 to reach a modest target at 1544.40 yesterday, which is short-term bearish.  However, the subsequent decline was mild, suggesting that bulls and bears may content themselves with playing toe-sies for a short while — perhaps a day or two. If buyers surprise, though, and push above the 1544.40 Hidden Pivot to new recovery highs, they should be presumed bound for the 1561.50 target of the pattern shown.  Its sibling midpoint ls 1538.60, so any pullback to that number from above 1545.00 should be viewed as a possible buying opportunity.