I tried to compare it to what happened in The Oldest, when $1,525 damage. In the same week the price of gold dropped $45 ($1,525 - $1,480) with a weekly range $110 ($1,590 - $1,480) and the next week followed by a decrease $174 ($1,495 - $1,321). In my view and assumption, refer to this formation a sharp decline and the wide range of weekly interpret that the price decline is more dominant than the increase ($110 smaller than $174).
At The Youngest when the $1,240 damage, at the same week the gold price just dropped $12 ($1,240 - $1,228) with a weekly range was $44 ($1,272 - $1,228) and the next week followed by a decrease of $27 ($1,242 - $1,215), so in my view , it is not sharp decline and the wide range of weekly, interpret that the decline is weakening and prices tend to reverse ($44 greater than $27).
Now I just think that the only formations that tends to perform reversals upside, and related the information from the Youngest about the impending change in trend in the near future, probably intended is a triple bottom.
Now I connect the points $1,215 with the previous analysis with the title of Today Is The Day That Awaited that I made reference for "On the other hand if the correction wave (c) of the wave" Z "associated with the 1.618% Fibonacci correction of wave (a) $1,345 - $1,280, then the wave (c) or" Z "is projected to end at $1,217 (red dashed line) and in proportional posture of "The Youngest" is at $1,215. "
Referring to the ideal characteristics of the distance between the bottom 2 with the bottom 3 is 0% - 3% and refer to yesterday's closing price was around $1,215 approximately equal to the opening price, I think the price movement tends to turn around, with the first obstacle to be passed at $1,240 and it will take about 2 weeks (+- 1 Week) to get there. At least for this time the price movement has shown a little change.
Because this is an analysis of a newbie, Once more its may be right or may be no,
From The Desk Of A Newbie
I think dollar will be string for a while now. Gold and Silver will suffer even more damage very soon. But eventually they will recover. Gold may drop down to 800-900 and Silver down to 10. I would buy Silver at 10. It will recover eventually. And there will be another bubble after years. There is no other way. It's inevitable. This is my fundamental view. Thank you.