re: gold heading under $340/ridge.. update
Hi Ridge, I welcome your cautionary tone and agree that while we have a lower high there must be some doubt. However, I believe what we are seeing with gold is a consolidation pattern in a well established trend that began around April 2001. Take a look at a weekly chart and you will see the power of the trend line. A break down through the 200 day MA in April this year did nothing to interfere with this trend line so you can see the trend is very strong.
