Some time ago I mentioned that GOLD had formed a doji candlestick in the monthly filter chart, which was a clear signal that we could expect to see a move to the upside. I am pleased to say that did happen and GOLD started climbing, until it reached the resistance level at 1308. It could not break above that resistance, formed a pair of hammer candlesticks in the daily filter charts and began its descent once again, breaking below the support at 1214.20. Next target is most likely 1150. If GOLD manages to break below that support I think it would safe to say that bearish trend continues.