GCQ10 – August Gold (Last:1212.40)

Maybe today will be the day that bulls finally break through the tedium?  As noted earlier, it will require a push above 1222.90 to create a mildly promising impulse leg on the lesser charts.  Friday’s upthrust indicates more upside to 1223.60 if midpoint resistance at 1215.20 can be surmounted; however, it should be noted that over the last week-and-a-half, the futures have been unable to reach even modest rally targets.