XAUUSD (1269.69: Gold prices remained rather flat yesterday with price action trading close to the 1270 levels. The daily session closed with a doji following the strong gains off 1259 level previously. There is also the potential for a correction with the daily session’s Stochastics oscillator showing a higher high against price’s lower high. On the 4-hour chart, the rising wedge pattern signals caution of a downside risk. Failure to break past the 1270 handle could keep gold prices subdued with the possibility to fall towards 1259 – 1260 levels where support is formed.
