XAUUSD (1338.36): Gold prices were seen breaking out to the upside after price action was seen briefly retesting the breached resistance level at 1328 to establish support. The minor bullish flag pattern that was formed is expected to see gold prices extend the gains toward 1346 level in the near term. In the event that gold prices retreat, we expect the support level at 1328 to hold but a close below this level could see gold prices pushing back toward the 1318 level of support.
