GC1! 1H Premarket: Gold Making Lower Lows, 3,929.5 Is the LineGold FuturesCOMEX:GC1!CFlo17Gold is around 3,946 after another leg lower overnight, from 4,005.9 down to a 3,929.5 low. That low and the 3,961-3,968 gap above are what I'm watching into the 8:20 pit open. Market structure Daily: below the 50-day (4,194) and 200-day (4,480), and this week's 4,157.7 high failed 4H/1H: lower high at 4,074.7, then a new low at 3,929.5 Overnight: lost the 3,989.6 PDL and 3,994.3 settle with no real bounce Key levels Resistance: 3,961.1-3,967.7 4H bear FVG, 3,994.3 settle, 4,005.9 ON high, 4,015.3 prior VAL, 4,025.9-4,053.5 4H bear FVG, 4,074.7 PDH Support: 3,929.5 ON low, 3,923.6-3,927.2 4H bull FVG, 3,900, 3,879.3 Oct 30 low Bull case Reclaim 3,967.7, then break 4,005.9, the last lower high Targets: 4,015.3, 4,053.5, 4,074.7 Invalidated by a 1H close below 3,929.5 Bear case 1H close below 3,929.5 Targets: 3,900, 3,879.3 Invalidated by a 1H close above 3,967.7 My chart runs on delayed data, so prices may lag live. This is my read of the chart, not financial advice.