XAUUSD (1310.74): Gold prices rebounded strongly in the day yesterday as price action closed above the support zone of 1300.86 yesterday. We expect this continuation to push prices higher in the near term. Gold prices will need to test the resistance level at 1324.72 – 1320.39 region. A reversal here could push gold prices back lower to the support level. A rebound off this level could keep the bullish bias intact as gold prices could eventually break past 1324.72 and target the next main level at 1345.87.
