GCQ11 – August Gold (Last:1621.70)

August Gold (GCQ11) price chart with targetsAlthough pullbacks are tending to be nastier than our midpoint guideline would encourage, those extra inches and feet of downwardliness are obviously intended to inspire whatever doubts and disappointment are needed to thwart most of us from becoming effortlessly rich.  A clear target at 1652.00 remains my minimum upside objective nonetheless, but another, just as clear, at 1727.60 beckons if and when the lower resistance yields. That last Hidden Pivot is tied to a midpoint at 1595.80, so any seemingly ill-tempered retracement to it should be viewed as opportunity, not punishment.