Gold: If This Is the Bounce — Imagine the Next Leg Down

Gold levels to watch

If this is the gold bounce, we wonder how a possible further move lower would look like. Crucial short term supports coming up soon. 21 day comes in slightly lower, as well as the steep trend line and then the magical $4000 level. A close below and the next big support comes in at $3800 (50 day). Resistance at $4200.