XAUUSD (1225.14): Gold prices gave up the gains logged from the previous day on Friday. However, price action posted a reversal just above the last support level of 1213.50. If price closes above 1223.50, the reversal would be confirmed. Gold prices will then most likely attempt to test the upper resistance level at 1242.25. Failure to clear the temporary resistance/support area of 1223.50 could, however, increase the risk of the downside. The lower support at 1204.00 will be the support level of interest.
