How Low Can Gold Go on a Correction?

If you're a "Buy the dip" kind of person, have some dry power available in case gold drops further.

http://resourceinvestor.com/News/2011/8/Pages/How-Low-Can-Gold-Go-on-a-Correction.aspx

As the chart above shows the price of gold has breached the sell line at $1,830 so we can expect to see a correction with downside price targets for support as follows:

1. $1,750 for support from the dotted pink line.
2. $1,650 for support from the warning line.
3. $1,500 for support from the lead-in trend line.