Gold
The price broke out of its downward trend two weeks ago. It has held steady at 4,140 so far, so there is still a chance that it will reach its previous peak. This sideways movement appears to be consolidation, which is positive for the continuation of the trend. The narrowing of the past few weeks could result in a movement of as much as $400-450, which in turn could point to a new peak. If the 4,062 level is broken, long entries should be suspended.
Resistance levels: 4,296; 4,375; 4,532.
Support levels: 4,062; 3,906; 3,828; 3,750; 3,593.
