Gold Futures (U.S. $539.90)

I had set out a potential $500 downside target for gold as it passed its $575 high in early February. As I see it, near term selling pressure continues, attempting to push down through support in the $540 area. For now I'm leaving my short term downside target in place in the $500 area.

I see this so far, as a healthy correction in a strong long term uptrend.