Gold
The rise that began in early December showed above 4500 from the correction phase. The 4531 area may function as strong resistance. We saw a strong sell-off day at the end of the year, but since the series of important swing lows and highs has not changed, no reversal pattern has yet formed. However, closing below 4375 would signal weakness and a trend break, so this level may currently be the watershed between the long and short sides.
Resistance levels: 4,531; 4609;4688.
Support levels: 4,375; 4,062; 3,906; 3,828; 3,750; 3,593.
