Gold - final sell off, prolonged consolidation or new up-cycle?

Here are the potential scenarios:

1. More sideways consolidation above/around $1,200 over the next couple of weeks until 200MA ($1,266) is hitting $1,200. That might take some more time.

2. Final sell off down towards the rising 200MA ($1,166) which would get everybody panicking and would create an outstanding entry chance.

3. The lows are already in and once gold takes out $1,262 the next target around $1,345 will be approached rather quickly.