XAUUSD (1330.29): The decline in gold prices stalled around the 1328 handle with price posting a strong rebound. Gold prices could remain caught within the range as resistance at 1336 is likely to keep a lid on any gains to the upside. There is a high possibility that gold prices will breakout to the downside in the near term as we expect to see gold prices extending the decline to 1307. To the upside, price action will need to clear the 1336 level to establish further gains to the upside.
