XAUUSD (1327.59): Gold prices fell sharply yesterday testing the support level at 1328. With price now at support, we expect to see a modest rebound shaping up. The bullish divergence on the 4-hour chart signals a near term upside in price. Gold price will need to first retest the 1336 level where resistance could be formed. However, a breakout above this level will see gold prices testing the 1345 level once again. To the downside, a break below 1328 could signal a move lower to 1307.50.
