XAUUSD (1313.58): Gold prices continued to drift lower after testing the upper resistance level of 1325 previously. We expect the sideways range to be maintained within 1325 resistance and 1311 level of support in the near term. The 4-hour Stochastics oscillator currently points to a hidden bullish divergence. This could mean that price action will likely test the lower support of 1311 ahead of another rebound in prices. Unless gold prices break out from the range, we expect this flat trading to continue.
