Update - 2012.11.21

Until this night gold is still playing around it's last week path (grey box) and seems that it doesn't have pushing power to go lower.
We can see gold can only go south as long as its 50%Fibo and then making a Higher Low and possibly a Higher High. From my point of view, it can be a sign of a new uptrend although it still too early to say. There is a big possibility gold will try once more to break its last high at 1736.
If it does, I don't think gold will go north too far. Seems we have a slow moving week for gold.
Good luck...

GG - 2012.11.21