Instead of crashing gold only made a partial decline and then shot upwards. Invert this pattern is what I would have liked to have seen happen, but it is still hard to justify this as a great impulse.
From the bottom very early this morning gold had a great looking impulse and it would truly have to still soar dramatically, if this were the start of a true impulse. I think there is still a very good chance of gold only being a correction. In a flat situation gold may find support at the $1180 or so price level.