Gold opens the week near $3,875 after a heavy Friday drop of about 3.6%, when price fell from the $4,020 area to a fresh low near $3,870. The daily structure is lower highs and lower lows, so the short-term bias stays cautious while price is below the broken $3,900–$3,920 area.



Today price has already bounced into that $3,900–$3,920 zone (high near $3,919) and is holding just under it — the first real test of the day.



Key zones I am watching:


Resistance 1: $3,900–$3,920 (Friday's breakdown area, now first resistance)


Resistance 2: $4,020–$4,027 (Friday's open/high area)


Support 1: $3,870 (Friday's low)


Support 2: $3,850 (round level below)



Two scenarios for today:


1) If buyers hold price above $3,920, the bounce can extend toward $4,020.


2) If the zone rejects price again, focus returns to $3,870, and a break there opens $3,850.



Watch item: US ISM Manufacturing today at 10:00 AM ET in the New York session — expect volatility around the release.



Sharing my own chart analysis for discussion and learning only. This is not financial advice and not a recommendation to buy or sell.