The futures turned lower without quite reaching the d target at 4819.30 shown in the inset. It remains viable and should be achieved within the next 4-7 trading days, provided the reversal from 4015 in early July is going to get legs. However, if the next move takes gold down to the green line (x=4216.50), although that would trigger a buy signal, we might expect only a one-level move back up to p=4417.50 before gold turns lower again.
$GCZ26 – December Gold (Last:4476.60)
