GCQ11 – August Gold (Last:1539.80)

August Gold (GCQ11) price chart with targetsFriday’s $15 spike early in the session appeared to be in consolidation for a second-wind burst to as high as 1554.50 over the near term. (It would be subject to midpoint interference at exactly 1544.60.)  It will take a little better than that, however — a print at 1545.60, to be exact — to refresh the short-term bull by exceeding yet another ‘external’ peak on the hourly chart. Night owls look for a low-risk boarding opportunity should seek camouflage on the five-minute chart, since that’s where ‘buy’ signals were being generated on Friday afternoon.