Frankly, until tonight gold was pulling back reasonably well toward 1650.
My eyes show 1650 as a pretty reasonable horizontal support line as well as the 150 ema.
I agree with your thoughts, but nothing goes straight down either !! The quick jump up tonight did surprise me, but you never know what the crap in Europe or the MF Global stuff will suddenly bring to the forefront either ???
If Gold is going to turn here, there is plenty of time for it to show it's stuff !!
The Euro is also "acting up" at the moment and it is only 10.30pm est. in Asian trade !! So ......???
Content to be the Cat at the "mouse hole" for the moment !!!