XAUUSD (1249.15): Gold prices posted strong gains on Friday as price action closed at 1248.53. This led to the resistance level of 1242.25 being breached. In the near term, we expect a rebound back to 1242.25 where the resistance level could now turn to support. As long as prices hold out near this resistance/support level, we can anticipate further gains. However, failure to hold the declines could push gold prices lower. The lower support level at 1227.10 is yet to be tested and remains a key target to the downside
