GCQ14 – August Gold (Last:1317.10)

August Gold is in its umpteenth straight day of a tedious consolidation.  The pattern shown does not look like it could conceivably produce any result other than a new rally leg, but it’s obviously not going to happen on our schedule. The patient camouflageur will be rewarded when the opportunity finally comes, but it will require rapt attention each day to charts of 15-minute degree or less. Upside potential is to the 1334.90 midpoint pivot shown but any higher would indicate 1364.30, its ‘D’ sibling.