XAUUSD (1334.85): Gold prices closed with strong gains on Tuesday rising above the 1328 resistance level. However, price action was seen easing back in early trading today. A close below the resistance level of 1328 could potentially shift the bias to the downside. In the near term, we expect gold prices to retest the level near 1328 where support could now be established. A rebound off this level could indicate further upside gains in the near term. The bias shifts to the downside only on a close below this level.
