Gold

Gold has yet to break the I-cloud resistance. The Price action looks to be forming an "Inverted Scallop" which has several different trading tactics.See Bulkowski's " Encyclopedia of Chart  Patterns" book on page 636.
One specified method is choose an inverted scallop with-in an 3rd of the yearly low(Price).Then wait for the pullback and 'buy' the Breakout.The statistics show a 26% Rise is normally achieved.
      The 60 minute sub-wave is in a area that points to an wave iv pullback,but those are not confirmed until they are mapped out.There are several different Fib Targets that can be achieved in the wave iii , 1320 was one of them. As we can see the KST has not punched though the ZLR and the DMI is not trending yet on the Daily chart.I could speculate that the top of the 60 minute sub wave would be just at or above the Blue Top line (measured move) and then a retrace down into the "Dip" of the cloud,that would 'retest' the top of sub wave a-b also.