Gold rallied on two consecutive days last week, but I’d caution against getting your hopes too high. For one, the rally occurred off a 1622 low that bearishly exceeded the ‘D’ target of a clear and compelling downtrending pattern. For two, the down-leg that created that low is strongly impulsive, having exceeded no fewer than three important ‘internal’ lows recorded since early in 2021.  That implies that this rally is merely corrected and should be viewed as such unless it exceeds the 1824.60 ‘external’ peak from August 12. And thirdly, the futures missed a crystal-clear 1750 rally target before turning down last week. That said, the hourly chart remains mildly bullish and can be traded with that bias, especially if buyers get second wind and push the December contract above September 12’s 1746 peak this week. _______ UPDATE (Oct 13, 5:30): Yeah sure, that was the bottom.