GOLD - Possible bounce on the daily basis

After Friday's drop most probably we are going to consolidate for 1-2 or 3 days.
The reason:
1. We had a Bollinger band crash signal. During a correction followed after a bull market a Bollinger band crash signal often signs a temporary bottom.

2. We are having the signs of the daily cycle low : RSI in oversold territory, SlowSToch in oversold territory too.
3. If we put a Fib retracement from the first daily cycle low ( Nov.13 ) until the top (1347$) Friday's correction is exactly at the 38,2% retracement.

4. We hit a strong level at the 1277-1296 range , the previous resistance became a support :

I still think this is going lower though this week or next as this should be the intermediate decline and RSI 5- RSI 6 need to print the famous" oversold zigzag".

How strong could be the bounce?
Maybe only a backtest of the 50 MA , maybe the tag of Bollinger Band's bracket (20 MA)

If there is any interest in cycles I might post a video analysis regarding gold cycles.

Komen:

Cyle wise the decline should look like this:

Komen:

My only concern is the EW count which suggests a wave 5 with a new high.
EuroMotif is quite good in this:

Komen:

But I think this will be the time when wave 4 will be a bit more than a 50% retracement ( it should be less shallow than wave 2) and wave 5 is going to break above 1380.
We will see soon...

Komen:

The bounce is starting.

Komen:

Scalp longs still ON. Waiting for the bounce

Komen:

There goes gold.

Komen:

Around 1300 I will close the scalp longs

Komen:

Scalp longs closed.

Komen:

Scalp longs were closed yesterday at the 100 and 200 MA cross

Komen:

Waiting for the panic selling below 1280...