Forecast - 2012.12.05

Gold continue to slide down and seems to follow my green path. It already breaks the white support of its last main uptrend and also breaks its yellow support.
Looking the fact that even the bad US data could not push the gold up, I guess gold will try to break down the green support. If it succeed than it is big possibility that it will go to 1670-1675 area.
But always be careful. Although it seems that the bear is so powerful at the moment, a significant surprise may boost the gold upside suddenly just as last upside move when Obama won the election.
Until this moment, I still see gold will not move lower than 1670-1675 area.
Upside scenario: As long as gold can't break the white line, I can't consider we have uptrend yet.

Good luck...

GG - 2012.12.05