Bearish Gold / Short-term

Gold reached the #1,589.70 mark yesterday but didn't break it, and instead made it a Support as the Buying pressure from the Hourly 4 chart #MA50 weighed more with DX dip in addition. The price is rebounding back to yesterday's Asian session Low’s #1,588.70, Hourly 4 is fully Bearish but Daily chart remains Neutral. Hourly 4 chart printed Descending Channel and has no intentions to break it. This only shows how volatile Gold's Short-term can be, but still Gold trades within my predicted values and no Bull temporary rise is an cause for alarm. In these days, anticipation of the heavy news is in progress and pending announcement of Economic stimulus. In my opinion if #1,587.70 doesn't hold today (as US session approaches), then I will be looking at #1,540.80 and #1,525.70 in extension call. But both ways, my analysis is always based on and designed eyeing Quarterly cycles and filters such events, so both ways (as soon DX stabilizes), Gold is calling for #1,570.80 and below. All eyes on Jobless Claims today.