The Daily COG has turned over and has bearish div. All Waves from the 1hr to Daily have bearish div and are on the brink of breaking their uptrends. We might be a little more a move up from here, but I think it is ready to turn over. Also, Gold seems to have been acting as the inverse to GBPUSD the last few weeks and I believe the GBPUSD is on the brink of a major reversal (i'll do that idea later), so Gold might pull down as that goes up.
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Here is a comparison of XAUUSD and GBPUSD over the last two months.
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Gold appears to have broken below the bull flag that it was in. It is looking like the break of 1360 was false. if that is the case, this very possibly could be the start of a long term reversal, which I have projected to go below the low from earlier this year. But we'll see, it's early.
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Potential double top, H&S reversal before the downturn.
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I still think that it wants 1379 and it will get there some time this afternoon.
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The gold chart got ugly quickly. TP# 1 is 1310ish, but I would like to see it reach 1265 before bouncing.