XAUUSD (1267.22): Gold prices are seen easing their declines with price action on the daily chart closing with a doji pattern on Thursday and a follow through with some bullish gains on Friday. This pattern potentially indicates some upside momentum in price action. Gold prices will now have to test the resistance level at 1274 region in order to post any further gains. The downside is likely to be limited for the moment. A breakout from 1274 could keep price action under pressure within the 1282 and 1274 price levels.
