XAUUSD (1339.39): Gold prices continued to slip as price action fell to the lower support of 1336. The minor bullish engulfing pattern formed on the 4-hour chart suggests a near term rally to the upside. Gold prices could be seen retesting the resistance level at 1357 level in the near term. A breakdown below 1336 could however signal further declines as gold prices could test the lower support at 1328 – 1325 levels.
