The converse of this supposition is true in-so-far-as if Gold fails to move higher it can't just sit here at these levels twiddling it's thumbs and must retrace perhaps back to the LMLP of the two forks in question around the $1660 level. ( previous links showing fork coordinates).
One point to note is that price has passed through several reaction lines that have been driving it lower over the last week which can clearly be seen in the 3rd chart down. My bearish bias continues but I have become slightly uneasy at the inability to see a serious pop below $1650. Yes, I am impatient and like a small child who wants everything now and time is a critical factor in any market that is often overlooked/underestimated. The current bar count using my "Sweet Spot 106" reverse/forward count formula indicates that we are in zone for a new pivot/move either way today and tomorrow.
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