Gold Technical Position: Likely Pullback and Continue LowerGold FuturesCOMEX_DL:GC1!PrinciplesofmathprobAfter today, Gold will cross the Center Line with a lower close; a pullback toward it is likely before continuing the downward trend. Even if it were to rally significantly and touch the lower parallel of the blue set from below, it would still maintain a bearish bias since we are trading within a bearish structure. Perhaps if the price recovers 5000 with strong momentum, a bullish scenario could be considered, but for the moment, there is nothing on the horizon. The most likely downside target is approximately 4470, 200 points lower. In short: I believe a small pullback is likely before continuing lower. It is worth adding a footnote: this drop was anticipated since the beginning of the month. Following that massive bearish bar on March 3rd, we projected that it would create a downside imbalance, trade into it, and then fall. We later noted that the blue 'support' line would not hold because the key low sits at 4423, well below that potential 'support'. Everything can be reviewed starting from the first post, 'Gold Bearish Idea'. The entire move followed the theory, but we also incorporated discretionary judgment by analyzing the strength with which the price was rejected at the center to begin outlining downside targets.