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Metals; Data Day! ECB Announcement, US Jobless Claims, Q4 Adv. GDP, Durable Goods & New Home Sales

All right, when we look at the gold market as I said, it seems that we're on the way of a correction, and the market, the correction that's happening, you might be going back to wherever this 18-week average meets price. Right now, it's $1992.60 – it sounded so far away when you were up here over $2070-2060 before, you're not there anymore. Now you seem to be making your toward it.

Nothing on this chart yet is bullish. If anything it's keeping its bearishness: lower highs and lower lows. You're coming into the first support that you and I have been talking about night after night.

I said, if it's going to stay down, then the 200th-day average, which we hit once, we bounce, challenge the 18-day average for coming to it, and when you add to that the Bollinger Band, if that gives ground, you could easily get now to the $1996-1998 level, where I'd look for the major support to show around the $2000 level. 

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