I'm not betting on any super major moves today as traders are getting off for the long weekend, yes the party has already started for some! For the near term: Upside: I'm looking at 1307 and another possible rejection at this resistance level. ...

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Gold has the potential to snap back up to 1329 from current levels, it may not decide to take this steep path though, we'll see how it plays out.

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Good advice, after a strong move like this, there's always a chance of a sharp snap back, it can catch the best of traders out.

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Thank you big bears, a magnificent performance today as well as exemplary leadership in the market And here's something for us smaller bears...sweet as hunny... video

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By the way, very short term support @1278/80.

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Looks like an extended coffee/tea/dinner/beer/wine break. There's still a few hungry bears about, watch out! Have a good weekend! Ciao :-)

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Looks like it's coffee break in NY, afternoon tea in the UK and I guess dinner in Asia. I'm sure everyone will be back soon! Hey, that's an idea, plotting time bands for when traders are away from their desks????

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If this is the rally, then I have 1324 as a possible upside target - neck line. But let's not get too excited, the bears are strong and clever.

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I am not planning to go long in Gold, even if we do get a rally, it's a bear market medium term.

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Thanks Nitsan. I'm bearish to 1180, with some kind of rally in between (which may never happen the way we want it).

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Gold is still generally going sideways, that can't last for too long. 1285(ish) does seem like reasonable support, so could see a nice bounce from there. Whether that is the level to stage an official corrective rally from is a different question.

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We love you bears, we do, ooohhhh bears we love you (1180 please!)...ok...may be next week (after the snap-back?)

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Only 0.1% loss? That's the sign of a successful trader to me. Managing losses, keeping them to a minimum, is 80% of trading proficiently. Only 20% to go bro!

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Come on you bears. 1289 would be nice, 1270 would be the icing on the cake, 1180 would be the cherry on the top! Really can't consolidate for too long.

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Thanks jack, I've been watching your levels, they seem to be quite accurate. I'll be watching this 1289 level to see if we get a bounce or alternatively a drop to 1274. The 1289 level also corresponds with a fib level on my charts, so we'll see if ...

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A 'snap-back' rally could occur at any time, the problem is knowing when that will happen exactly, mission impossible if you ask me, for many traders, even the pros.

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Is this where gold falls off the cliff? currently @1292.

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I've got 1270.53 as the next possible lower level, which is within your range, we'll see what happens.

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It's raining gold bars, the bears have been gathering for this down leg since 1am GMT, no idea how long it will last. We're currently at a minor fib level, so might see a relatively 'tiny' pull back. Not even going to try and trade it. Regarding ...

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It is probably going for the neck or as near as possible to, it might even nick it, if it dares:

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