GCQ11 – August Gold (Last:1527.90)

The robustness of the long-term bull has been sufficient to keep the futures buoyant since early May’s corrective low, but because buyers are in no particular hurry to bolt for the next bullish plateau near 1600.00, they’ve been subjected to considerable buffeting.  For the time being, ‘dueling’ impulse legs are predicting more tiresome volatility — nothing that a pop today exceeding 1545.50 wouldn’t resolve.