Gold looks revved for a thrust above the important external peak at 1526.50 shown in the chart. Although that would hardly guarantee a rally to new all-time highs, it would almost surely get the August contract out of the danger zone for now. A breakout might make camouflage tricky to leverage, but keep in mind that it is exactly at such times that Hidden Pivot analysis shines, transforming a graphical picture of panic into the subtle ABCD patterns that we should love to trade.
