re: **gold under $355 and falling fast** - not My take on gold -...

re: **gold under $355 and falling fast** - not My take on gold -

Ok it got to a high of $364.90 and is now testing it's 50DMA ($355). The last day it has bounced no less then 6 times off this support. Very strong support for now and looks to be bought at this price. There is too much accumulation going on in gold stocks for this to break. If it does then there is still the 200DMA ($343) as next support and this one hasn't broken since the bull began in April 2001. So gold corrects a little now need to panic. It is healthy and I'd rather see it go up and down then straight up.

http://stockcharts.com/def/servlet/SC.web?c=$gold,uu[w,a]dallynay[df][pb50!b200!f][iUp89,21,55]&pref=G