Gold 626 quite a drubbing but...

Here are a couple of charts illustrating the correction, or better put, "take down" of Gold. The first chart shows the trendline study and the second adds the BBands 50 unit with 50 unit on a 4 hour bar chart.

My hidden pivot study on this move projects to 619.75 which I predict will mark the bottom of this ABC. As the Gold pundits say we are in the big 3rd wave or the 2nd phase. Gold will not go straight up and we won't see recent lows imo.
My guess is this correction sets us up for new highs. An additional reason 619 is important is a longer term hidden pivot target exists from a older long term ABC starting at 489.70=A 574.93=B 533.8=C Target 619.03

Rick, www.rickackerman.com has the 623 area targeted basis August Gold Futures. I guess I have some bragging rights as my up target from 642 (post below) was .40 cents above the actual high of 576.50.
These Gold charts and price projections are based on www.netdania.com gold feed.

Enjoy, but time is near... when uncertanty is greatest.