XAUUSD (1327.77): Gold prices were seen closing on a bearish note yesterday following the previous day’s strong gains. Price action closed below 1328 level which served as resistance previously. A follow through is required in order to confirm the resistance level at 1328. Alternately, if price action posts an upside bounce, we could expect to see further gains coming. Gold prices will need to breakout above the previous highs posted near the 1340 region in order to confirm the upside bias.
