GCQ10 – August Gold (Last:1193.60)

August Gold (GCQ10) price chart with targetsThe pullback from mid-May’s 1251.00 peak is sufficient in theory to have recharged the futures for a rally to as high as 1369.  However, looking at the weekly chart (see inset) the eye craves more backing and filling to bring the current correction into better symmetry with the earlier correction at k-A.  In any event, a resumption of the major uptrend would be signaled by a 50-point “booster-stage” rally from the so-far point ‘C’ low at 1168.00 or lower.