XAUUSD (1254.20): Gold prices continued to trade flat despite the bullish flag pattern, raising concerns on a potential invalidation. The failure to retest the resistance area of 1263 – 1260 is expected to keep prices flat with the possibility of a break down. The lower support is seen at 1247 handle. Gold prices could very well trade sideways within the said levels unless there is a strong catalyst to help the precious metal to breakout from this range.
