Gold prices broke below key support at 4440 following US labor data, signaling sustained downward pressure toward 4365 and 4280.
Gold managed to fell below the support of 4440 last Friday on US labour data.
As we see over the chart, the Intraday levels show resistance at the 4440-60 zone, where as long as the market hold below it, the drop pressure could sustain with supports at 4365 and 4280. Each support has the chance to hit the market with a rebound.
Above 4510 more advance toward 4625 is likely.
SUPPORT | RESISTANCE | |
LEVEL1 | 4365 | 4440-60 |
LEVEL2 | 4280 | 4510 |
LEVEL3 | 4200 | 4625 |
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