XAUUSD (1250.91): Gold prices maintained the strong bullish momentum. Price action has managed to clear the previous highs near 1248.00. This could potentially signal further upside. The next main target for gold comes in at the 1280 level. However, for further gains to be established, gold needs to form support at the 1248 region. There is also a risk that the current upside momentum could falter. In this case, we expect gold prices to potentially risk posting a correction toward the 1227 – 1228 level of support.
