Bear's target range:

I've been expecting gold to rally up out of the channel, and that could still happen, but bears should know where to target if still holding or expecting to enter. A drop from current 236 fib level would be a significant victory for bear in my opinion. The 236 is typically the decision maker in fib.

1433 is my hopeful target mainly because I'm still very bullish on the S&P but honestly as I posted on my last Gold idea, we could easily rally up to 272-618 extensions. Long the S&P.