We broke below cloud support on the daily chart.  Barring a massive reversal today to take us back above the $1866 level, I don’t really see gold doing anything for a month or two except drift lower or sideways at best.  There is a small window the week of February 8th where it could break through the $1866 level, but for me it is just not anything to bank on.

[I see just as I post this gold is starting a reversal.  Question is, will it be able to get back to the $1866 level today.  I don’t see it happening, but if it does, it will be a great sign for bulls.]