Gold managed to hit a fast rebound towards 4402 after the US CPI data last friday and also retreated from that zone.
As we see from the chart, the market is still holding above the support of 4280 which can lead to an advance wave toward 4625.
Below 4280 more of a drop toward 4200-20 is likely.
A trading zone between support 4280-300 and resistance 4430-50 could hold the market.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 4280-300 | 4430-50 |
| LEVEL2 | 4200-20 | 4510 |
| LEVEL3 | 4165 | 4575 |