New Low formed at #1,489.90 as Hourly 5 assuming control of the downtrend on a smaller scale with Daily chart still not becoming oversold. This may suggest that the Channel Down requires small consolidation (few $ up) before it moves lower or a Lower High push near #1,487.70. In any case, last week's Weekly candle was so strong that it erased 50% of the gains of the previous 4 which is clear sign of new Bearish movement. This has put Weekly chart back on Bearish track. With DX breaking above #98,20, I can't see how Gold can protect the #1,490.70 level for much longer, unless the stock markets have a strong pull back (unlikely). My projection is Strong Sell/Short!
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- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.