XAUUSD (1225.28): Gold prices posted a strong rebound off the 1213.50 level of support. The strong rally initially met the resistance level at 1223.50 only to post a dip before breaking past this resistance level. In the near term, gold prices could maintain the momentum targeting 1242.25. To the downside, the bias is likely to change if gold posts a reversal and eases back to the 1223.50 level and then back to the 1213.50 support.
