XAUUSD (1284.27): Gold prices gave up the gains as price action fell sharply back to retest the previously breached resistance level. Gold prices are currently trading slightly below the 1285 handle. Failure to trim the losses could see gold prices extending the weakness down to 1275 region where the support level has been firmly established. However, the Stochastics oscillator is currently oversold and could signal a hidden bullish divergence with the higher low in price and lower low on the Stochastics.
