Is gold turning around?

The gold price fell through the bottom line of the channel I have drawn and it will be interesting to see where it goes from here. I shall wait for today's close and then evaluate whether or not to buy.

Yesterday, Franklin Sanders wrote:

     The GOLD PRICE made a low at $1,527.70, practically on my target. Silver posted its low at 2676 c, not far off 2615c support.

     Both the silver and gold are coasting along on their bottom Bollinger Bands, something that hasn't happened since fall 2008. Implication? Silver and gold are monstrously oversold, and will shortly come roaring back with a rally, even if only a temporary one.

     End of this decline ought to come within a week at most, but that euro crisis hangs over everything, scaring everyone to death, much like the 2008 panic in the US.