GCQ10 – August Gold (Last:1220.50)

Gold was acting too timid Sunday night to suggest it’s ready to tack a follow-through onto Friday’s powerful reversal.  However, the neutral short-term outlook would brighten considerably on a print today at 1231.20, since that’s where the hourly chart turns bullish. Maximum upside target for the near-term if buyers romp: 1261.80.  At the moment, however, they look like they’d rather just mark time for at least the next few days.