Simplified count with trendlines drawn through weekly closes on a log chart.

We appear to have broken out of the flag and are in the red wave c (green b) phase. I think the gold decline will end when this corrective leg is complete. First target is the trendline around 121 but it could easily go to 127 which would be consistent with a blowoff move in the SM. Next year I see a target around 94 and that would be the period where gold moves to the 1500-1600 range