gold to $350 before $400??

  1. 481 Posts.
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    I am seeing a downtrend starting to form with the potential of gold hitting a support at $350. Present support is around the $370 level.

    It has set lower lows on chart (set in early Oct), which means a high probability of falling to it's next support level of $350.

    In AUD terms gold is around the $540 level. If the currency pulls back with the gold price then in AUD terms there should be no change. If the currency rises in addition to a drop in gold price, then it may approach $AUD500 level.

    Any others comments?

    Ewebute
 
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