Many has been taken by surprise by the decline from 1,433.73. but then came FED to the rescue or did they?
No they did not! and it was not that big a surprise, at least not to me. Please see my last post on gold here: http://theelliottwavesufer.blogspot.dk/2013/09/blog-post.html
A S/H/S top has now been activated and all that's needed is a break below 1,272.85 to eliminate that last piece of doubt, that we are headed lower towards 1,148.84, which is the S/H/S target, from where we can expect the next correction.
Ideally the S/H/S neckline now protects the upside for the break below 1,272.85, but only a break above 1,344.07 invalidates the S/H/S top calling for a move higher to 1,375.33 and likely slightly higher, but I still don't see a break above 1,433.73, which will be a game changer.
