The tortuous rally begun in August is nearing the end of the line, a modest leap from a 1281.20 target that is the highest I am able to project using the intraday charts. This doesn’t mean the futures can’t go higher, even if the target provides resistance enough for scalpers to go short against it (tightly stopped, of course). What we should want to see is a move past 1281.20, since that would imply the trend is likely to continue.  I hesitate to say the breach of the resistance need be easy or decisive, since that is not the way gold has been rolling lately. Any breach to the upside would be welcome, but we can only give it time, and be prepared if things don’t go quite the way we might wish. _______ UPDATE (Dec 26, 6:32 p.m.): After peaking at 1282.30, an inch above our target, the February contract has relapsed by more than $15. We’ll be able to judge bulls’ mettle by how quickly they can recover and push above 1281.20 — or better yet, close above it. _______UPDATE (Dec 28, 4:15 p.m.): There’s nothing more bullish than an uptrend, as the saying goes, but gold’s trek higher has been labored and tedious. As long as the February contract continues to push past Hidden Pivot resistances, though, our trading bias should remain bullish. The next lies at 1292.60.  _______ UPDATE (Jan 2, 9:43 p.m.): The futures fell $5 after coming within two ticks of the 1292.60 target. The subsequent recovery has been quick, however, portending another leg up. Use p=1292.70 as a minimum upside objective, but expect more progress to 1298.50 if the initial ‘hidden’ resistance is easily brushed aside. Here’s the chart._______ UPDATE (Jan 3, 10:31 p.m.): Gold has been exceeding targets almost daily — not demolishing them, but penetrating them with sufficient force to put the next in play. That would now be the 1302.50 target shown here. Above it, the biggest remaining challenge, technically speaking, would be to take out an important ‘external’ peak at 1330.40 recorded. on June 14.