XAUUSD (1176.73): Gold prices pulled back from fresh intraday lows on Thursday. Gold fell to new lows of 1160.32 before recovering to close at 1174. The momentum remains strongly bearish but comes at a risk of a pull-back. The retest of the recently breached support at 1211.50 – 1219.75 remains an ideal price level for a retest. Establishing resistance at this level could keep the momentum to the downside which is however likely to stall in the near term.
