After having resolved the descending triangle to the downside (on Point) the whole chart looks really bearish. 6 resistances to 1400 and only 2 supports till 1110... From COT Data we need to check positioning after this decline, but it won't be that MUCH different as should be expected. I rather believe in a significant change in options positioning this week. I guess we will see a technical correction till 1290-1300 for the rest of the week. Think about my alternative bullish scenario for gold I presented a couple of weeks ago....