XAUUSD (1189.76): Gold prices tested the support at 1183.30 with price action forming a near double bottom at the support. This could potentially open the upside in price action. The resistance level at 1193.00 remains the first hurdle. A breakout above this level could put gold prices on track to test the 1200 level once again. Overall, price action in gold remains flat in the medium term. The long-term range has been established between 1212 and 1183 levels. A breakout from either of these levels will most likely signal the next direction.
