I haven’t posted a chart of gold in a while so here’s some numbers to chew on.
Gold is near the weekly low of 6/24/2013 = 1179.4
That would be where the start of an “h” pattern (down) or a “W” pattern (Up) occurs.
If price can push under 1179 with conviction, the target = 1033.4
There will be support from the week of 2/1/2010 at 1044.5
If support holds in the 1179 area, 1st resistance is = 1488.8
The next MAJOR support is the 5 year low of $754.1
Notes are on chart:
On a shorter term there’s a target of 1222.1 that’s been hit but not closed. Until its closed, it will be support.