Gold rebounded from the 4450-80 support zone which could initiate a reversal Head-and-Shoulder formation which could push for another rebound towards the 4880 zone.
As we see from the chart, prices rebounded from 4450-80 whilst marching towards the resistance neckline of the Head and Shoulders formation around the 4595 zone.
The market could hold this trading zone between support 4450-80 and resistance 4595 for another swing.
Above 4595 the market could initiate another advance wave toward 4880.
Below 4450 prices could add more pressure to test 4360 again.
Below 4360 more of a drop toward 4306 could hit the market.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 4450-80 | 4595 |
| LEVEL2 | 4360 | 4770 |
| LEVEL3 | 4306 | 4890 |