XAUUSD (1310.88): Gold prices continued to trade within the support level of 1311 and 1307. Price action remains range bound at this level but the consolidation could signal a possible correction. The resistance level at 1325 which remains untested could be the upside target on a rebound. To the downside, price action will need to break out below the support level strongly in order to test the next main support at 1300. However, in the near term, gold prices are likely to remain support with the potential for an upside correction.
