Yesterday’s failure by $2.80 to reach a minor downside target at 1564.40 is bullish, but the futures have yet to ‘actualize’ the potential thereof via a robust impulse leg, even if on the lowly 15-minute chart. That would take an unpaused thrust today exceeding the four prior peaks shown, the last two of which are external. If Gold instead continues lower, you can try bottom-fishing at 1558.10, stop 1557.50. That’s two ticks above the D target of (on the 15m chart) A=1592.20 at 12:45 p.m EDT on July 17; B=1567.20 at 9:00 a.m. on July 18.
