XAUUSD (1287.02): Gold prices have likely completed the downside decline after price posted a strong reversal after testing the 1262.80 support level. The subsequent rally from this support pushed gold prices to close above the immediate resistance of 1275 – 1273 and also breaking past the falling trend line. Further gains could see gold prices rising towards the 1290 handle. However, establishing support near 1275 – 1273 could validate the bullish bias.
