XAUUSD (1276.41): Gold prices touched down the support level at 1275 – 1274 level and this marks the downside correction in price following the rising wedge pattern. We can expect some consolidation near the support level with the potential for a short-term bounce in prices. Still, gold prices could be seen maintaining the sideways range within 1296 and 1274 levels of resistance and support. A breakout from this range will signal further gains or losses in price.
