June Gold has pushed above a minor target at 1258.80, implying the futures are being driven by an ABC rally pattern of larger degree. If so, there are two immediate possibilities: 1) a little more upside to the 1265.70 target shown; or if it is easily brushed aside, 2) a run-up to the 1292.50 target of the bull cycle begun on February 22 from 1203.00.  We’ll look for precise p and p2 confirmations of the larger pattern as the move progresses, but first let’s see how bulls fare in their initial tussle with the Hidden Pivot resistance at 1265.70, which looks like a shoe-in to be reached. _______ UPDATE (April 12, 10:28 a.m. ET): Gold rallied $12 to top at 1264.70, a dollar shy of the target, before receding sharply into slightly negative territory. This is hardly a sign of bullish health, but by now we should have become used to such gratuitous shenanigans in bullion. The bull move from late 2015’s lows is not over, not by a longshot, but we will need to be very patient as it musters energy for the next bullish spasm. In the meantime, a relatively shallow pullback would be encouraging.