Gold Retracement Analysis

market might drop below 4000 before touching 4100 position. gaza-israel ceasefire is another indicator for long bearish trend up coming. retracement phase will cover 100$ drop in market but the breakout of 3938 will determine market's trend. if market drops below 4000 breaking strong support 3940 then its next target will be 3840 and cand drop even further. strong dollar will now determine market's trend.

Key Areas:

Support: 4000, 3938, 3838
Resistance: 4080, 4100
Target: 3800