Gold
Yesterday’s strong rally may be enough to trigger a reversal in the downward trend seen so far. Since the price hasn’t hit a new low in recent weeks, there’s a good chance that a turnaround could begin. A rally would mean reaching at least the 4,375 level. This would be the minimum expected upside potential; higher levels could be reached if the ideal downtrend were to break upward. In the event of a decline, long positions could be sought.
Resistance levels: 4,375; 4,688; 4,843; 4,923; 5,000.
Support levels: 3,906; 3,750.
