Gold managed to hit a few dollars below the 3886 support, indicating a further drop is still to come.
As we see from the chart, the market resistance zone is around 3975-80, and as long as prices hold below it a further drop toward 3800 is likely.
Above 3980 more advance is likely, while the 4080 resistance may keep the drop pressure over the market for another drop wave.
| SUPPORT | RESISTANCE | |
|---|---|---|
| LEVEL1 | 3891 | 3975-80 |
| LEVEL2 | 3870 | 4080 |
| LEVEL3 | 3825 | 4155 |