Updating Gold AnalysisGold FuturesCOMEX_DL:GC1!PrinciplesofmathprobFirst, I’ll leave the link to the original analysis here, just in case anybody wants to see it: The first signal was the bearish trendline breakout. Based on the magnitude of that break, we were able to predict it would create a downward imbalance, followed by a pullback before continuing its most likely bearish trajectory. Right now, we are at a potential support level. However, as I mentioned previously, it is unlikely that this support level will find buyers. "Trade active Monitoring potential support, though it’s currently a 50/50 toss-up. There is no reason to buy without clear confirmation. Furthermore, the key low sits 600 points lower at 4423, while the current price is 5023. I doubt buyers will step in and move the market up from here." The key point is that the significant low is much lower than the current potential support price, which led me to believe that buyers wouldn't show up. In trend theory, when the price reaches a support/resistance level, what happens next is essentially a 50/50 toss-up: it either reverses or accelerates through it. "Prices will either reverse on meeting the TL/ML or gap through it" The word "acceleration" is very important; it refers to an imbalance, a gap or a vacuum. I don’t want to imply that today’s gold decline was necessarily due to "selling pressure." It could simply be that no one wanted to buy at these prices because they might be waiting for lower levels. Sometimes there is an enormous amount of sellers; other times, there are simply no buyers, causing the price to "jump" —creating a gap or an imbalance. I couldn't say exactly which one it was in today's candle, but what I do know is that I wasn't expecting buyers. It makes no sense to trade long at these prices when the key low is at 4423, much further down. Structure always rules. Ultimately, I believe we are close to hitting a major bearish target, represented by the bearish center line that the price is about to reach.