Short Term Gold Target: $1,272

From Rick Ackerman at Rick's Picks

Hidden Pivot forces appear to be properly aligned for a promised push to 1272.60. For starters, a minor ABC rally that took the futures somewhat above the magically resistant 1250.30 slightly overshot its target, 1258.10. Adding to the bullish picture is the fact that the retracement so far is shallow, having created no bearish impulse legs so far even on the 5-minute chart.