XAUUSD (1259.01): Gold prices extended the gains to hit the 1263 level of resistance. The bullish flag pattern seems to be validated but we expect a near term pullback. Gold prices are likely to retest the breakout level around 1256. A reversal off this level could signal further upside in price. However, gold prices will need to breakout above 1263 resistance level in order to target the 1273.47 region which marks the measured move of the bullish flag pattern.
