Clear confirmation may be obtained if the movement can pass and move above $1,240, because this point act as a pullback point for bear market to seek further $ 1,110/05, because for a bull market a pullback point is $1,222.
The worst possibility that would happen if the $ 1,215 can be bypassed and the price goes below $1,215 then the movement have a tendency to test the $ 1,180 June 2013 Low and if the point of $1,180 breakout then the estimated the price of gold will fall to around $1,165/55 as the average level of downside (this is 62% FR from $1,920 High 2011 to $680 Low 2008). Does the price of gold will fall below 62% FR and to $1,110/05 ? if refers to this formation, at least price must recover to rise to the limited point, there is around $1,190.
Although it can be said that a shorter or smaller posture of “The Youngest” is relative, but I see on the chart that the boundaries of these levels ($ 1.228, $ 1.222, $ 1.215 and $ 1.190, and the most distant $1,165/55) at a reasonable points and illustrates the tendency that "the Youngest" will have a shorter or smaller posture than the "the Oldest". Moreover, if we see that near the point of $1,180 the price movement may tend to form a Triple Bottom or Formation.
Why I use "The Oldest" as a benchmark ?. The reason is because "The Oldest" has a price movement that comes closest with to date, such as its low targets at $ 1,180, the recovery limited target to $ 1,395 after touching its target price at $1,180 and its next lower target around $1,000.
Maybe my view it is too early to say that gold has a tendency not to fall too far at around $1,000, but that is what might be implied from the posture of "The Youngest" if it is really it has a posture that is shorter or smaller.
From The Desk Of A Newbie