A bit hard to tell atm whether Gold has bottomed out..A rise back up to 1220 (US$) is promising and Wall St is looking like it is in correction mode will help gold..
1208 a new bottom ?...no the bottom consists of a double bottom chart pattern (1179 in July 2013 and 1181 at Xmas 2013) and so far that pattern is still intact, but it is under threat...There is a good chance that 1180 may again be reached ..perhaps a triple bottom pattern...
What can be said, is my new Bull market cycle identification signs which were triggered may have been an anomaly as the 1240 bull/bear line has been busted..Theoretically that 1240 bust shouldn't have happened if the bull cycle is in fact operating....