For the last couple of months gold's been trading in a range frustating for both the longs and the shorts with no real movement in either way. Yet the bears seem to be winning this fight for now. Gold is still following it's downward channel even though it broke it's median line but didn't stay above it for long. Ideally I'd like for gold go down to about 1190 to flush out the entrenched longs maybe even reach 1130. Once the longs have been flushed sentiment will be ultra bearish that's when new long positions should be opened.