You have to drop down to the 10-minute chart to find the bullish impulse leg associated with yesterday’s rally. It still projects to 1170.10, but the futures were unable to do any better than 1168.90 intraday despite the absence of structural resistance near the target.  Today the futures will need to touch 1175.10 to evince even a hint of genuine buying enthusiasm. _______ UPDATE (12:32 p.m. EDT):  I’ll keep an open mind about this rally, but the key test that looms is quite clear in any case, since, in order to decisively end the correction from June’s all-time highs, the futures will need to surpass — without a b-c correction — two peaks on the daily chart that lie, respectively, at 1203.90 (7/23) and 1218.80 (7/13).  Two bullish factors can be cited at this point: 1) the futures have turned from within just 0.60 cents of a legitimate Hidden Pivot support at 1155.00; and 2)  strong physical buying at lower levels — this was mentioned in the chat room by a gold dealer — seems to have repelled sellers.