GCQ11 – August Gold (Last:1499.90)

As prominently noted in today’s commentary, August Gold will face jeopardy down to as low as 1446.90 if the 1053.10 Hidden Pivot midpoint of the pattern shown gives way. As of late Monday night, the support had been exceeded by more than $12, suggesting the move may already be under way.  Alternatively, it would take a poke above 1526.50, and soon, to turn the intraday charts bullish.