Update - 2012.11.29

Exactly as predicted in my last post, gold made sideways in the blue box area until NY open.
Going higher a bit after NY open and play around 38.2 fibo.

For My Personal Notes:
Today fundamentals (US News):
GDP and Unemployment Claims (almost the same as predicted)
Pending Home Sales (very good / green, +5.2 < +0.9 < +0.4 = real < predicted < last)

Analysis:
It's very logic if GDP and Unemployment didn't give any effect because the result just almost the same as predicted.
But Pending Home Sales was very good (green), almost 6 times than predicted, and should push gold much lower than that. Actually we didn't see it. Gold even seems to go north.
I smell bullish in the air.

For My Personal Notes:
Still can't get any convincing of what might cause the drop.
Some possible causes:
1.  India gold demand down ( http://m.indianexpress.com/news/%22indias-gold-demand-may-dip-by-33--at-700-tonne-in-2012-wgc%22/989113/)
2. Sell order 7500 x 100 troy ounce or 24 tons physical gold sold (rumors, don't have link to these)
3. Obama speech about tax cut (may be not since he speech after the drop has started)
4. Warren Buffet on tv about Fiscal Cliff (I don't think so)

Sorry to all readers,
I have to put the above note in this post since it is also my personal log.

Now let's talk about the chart.
Seeing that gold is still hiking although there is a very good Pending Home Sales data just now, I think the bull is back again. It is very obvious that bull wants to make a compensation of what bear has done with that deep drop. Looking at my H1 Chart, it is very clear gold can pass 23.6 fibo very easily (arrow 1) and pushed back down just 1 time only (arrow 2) and now it seems it is playing around 38.2 fibo and start trying to break its 50% fibo.
I believe it will not that easy for gold going up to its position before the drop. Need more time.
I think tomorrow gold will play between 1720-1735, still sideways with a slight tendency of going up (as long as there is no other surprises)

GG - 2012.11.29