Recap on gold including trendlines to watch for direction

Gold fell from the 1,000 level which was one of our potential C=A targets (those who have been following for a while should remember that), meaning that it can have been a larger (B) wave peak. The steep drop since then probably has some thinking it's started an impulse down that would be just the beginning of a (C) wave down. I would interpret breaking the channel trendline as confirming a (C) wave down becoming a likely preferred Elliott Wave count. And while we cannot rule that out, we do have our channel trendlines which show that gold has come down to a trendline retest that also follows an Elliott Wave principle by testing the area of a prior, smaller-degree 4th wave level that can provide support. Support then points to our numbers at 1024 and 1192 (I know others have numbers at levels above 1,000 too). Here are the daily, weekly and monthly charts of gold ($GOLD - continuous contract) depicting the channel trendlines we're interested in: