XAUUSD (1191.15): Gold prices fell sharply on the day as price action is seen recovering from the lows above 1183.00 region. Price action in gold remains flat in the medium term with the support at 1183 and the resistance at 1212.05 keeping the precious metal trading sideways. If gold prices break the floor at 1183.30, then we expect the declines to test 1170 region. To the upside, further gains can be expected only on a break out above 1212.05 resistance.
