"Anyway, his analysis identifies the Commercials support level...

"Anyway, his analysis identifies the Commercials support level at $1201.50 USD and their resistance level as $1377.50. Make of that whatever you want or need."
These two levels are pretty much the exact most recent Resistance - $1,377.xx - upper purple line - (which has now failed - multiple times, each time with a successively lower high indicating exhaution), and we are now between
a)current Support around Brexit day low level ($1,250.11 = current Support), which was briefly but sharply penetrated last Friday....third purple line from top - we are literally hovering above the edge now;
b) and new Resistance of $1,302 (old Support becomes new Resistance) second purple line from top.

If this current Support level cannot hold (circa $1,250), then next Chart Support is late May / early June low of $1,199.xx...let's say $1,999-1,205 range - lowest purple line.
It's good to know that I am finally in sync with the big boys thinking (of which exclusive club @AverageJoe is clearly a card carrying member).
My own expectation is gloomy, sad to say (not what people want to hear, I know) ...that gold price will fall to that lower Support level.....after a lot of churning, retracements etc...starting with attempt to take out next resistance of $1,302.