XAUUSD (1249.38): Gold prices continued to post the declines as price action was seen briefly falling below the 1250 handle in the near term. This also coincides with price action testing the lower trend line of the falling price channel. In the event of a rebound, gold prices could be seen extending the gains back to the 1263 level where resistance is most likely to be formed. The Stochastics on the 4-hour chart remains a bit overstretched into the oversold levels currently.
