XAUUSD (1216.03): Gold prices turned bullish on Friday, but the consolidation continues. The daily chart signals a potential bullish divergence on the Stochastics. This could perhaps signal an upside break out in the near-term. Gold will need to break out above 1219.75 level of resistance to confirm this upside. Alternately, on the 4-hour chart, we expect the consolidation to continue within the 1219.75 resistance level and previous lows at 1204.50.
