Gold rallied towards the upper side of a downward channel where break can occur in September as rally from the low is having characteristics of an impulsive price action followed by a current downward correction. If that's the case then ending diagonal is completed which means that metal is turning bullish, but for final confirmation of a turning point and big uptrend we need to see broken red trendline resistance as well as 1306 swing. However, from a minimum expectations we will look for 1230 after broken channel line (circled).
GOLD Daily Elliott Wave Analysis