Gold has also fallen to the bottom support line of its rising channel drawn from July 30,2010 and appears to be making a head and shoulders formation. European debt panic could give big boost to the $ Monday AM. If gold breaks this support line, next major support would be all the way down to around $1230. Most of the gold pennies I am watching seem oblivious to the daily gyrations of the gold market, but a big correction to gold here could dampen the enthusiasm of penny investors as well.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.