GCQ12 – August Gold (Last:1590.80)

Within a bigger picture that remains bearish for the intermediate term, the daily chart is brain-dead, and anything shy of 1675 should be regarded as mere noise. However, the short-term outlook would brighten cosiderably on a print today exceeding 1610.70.  Camouflageurs could attempt a long entry on a b-c pullback from lower, however — from between peaks #1 and #2, or #2 and #3.  Want to learn how to do this stuff yourself? Click here for a free trial subscription to Rick’s Picks.