On a pure technical basis, $WTIC is due to rally since validating once again its bullish channel bottom.
Additionally: 1 - Consider Slo-STO's signal line extreme oversold position 2 - CCI tapering off 3 - RSI signaling a rally at the confirmingly BULLISH 40-line level
OVERALL - Early BULLISH reversal signals are lining up:
$GOLD may be due for a decline - I expect the USD to also rebound from here on, as expected in its inverse lock-step with GOLD.
In fact, last MAY, I posted "Chart #1" below with $1.300.00 as eventual target.
Also, channel drawn as far back as OCT 2008 remain in force - See "Chart #2".
Finally, "Chart #3" remains bearish with a continued resistance from a bearish channel that too remain in force since NOV 2009.
OVERALL - There are enough technical events here to influence my bias towards a bullish turn and favor a down-side scenario for GOLD. An upside above $1,300.00 (in "Chart #1") would require a very improbable "world event" to overcome the technical hurdles overhead for this topping commodity, IMHO:
News 
Market Data 
Discover 
