Gold price direction

Overnight gold price action broke important levels. Highest probabilities now favour extended decline and consolidation. Two low probability scenarios which could still save bullish perspective - strong rebound this week without any significant falls from this point, or alternatively being able to hold >1215 til about middle of month until strong rebound then. Literally would be hanging on by skin of teeth. If we don't see either then gold will at least start with 11xx soon and how far it declines will become more evident with further price action and likely only rallies remainder of this year will be setting up for further declines. Could be argued about thinly traded due to holidays etc but reality is price broke important levels and market signalling clear warning. Not saying near term bullish action completely ruled out but now not likely. From what I'm reading it could takes month to resolve - perhaps towards end of year and maybe not even until next year. I'm expecting miners to not fall hard straight away but if gold keeps heading down there will be another big value opportunity with miners in coming months, but in that scenario no need to rush and catch falling knives, and of course depends on own investment timeframes and style. Next few days crucial. All the best.