XAU/USD (a 4-hour chart)
From a fundamental point of view, the situation in the gold market develops interestingly. It is possible that the main phase of the current cycle of growth in this market is behind us. Reduced likelihood of a rate hike this year in the US- is a negative factor for precious metal. At the same time, the gradual return of risk appetite transfers the capital out of the gold market in the stock assets. Nevertheless it from a technical point of view, gold is trading in the mid-channel of 1335-1358 and we expect that some time the gold market will remain in this range. However, we note that the probability of testing the lower boundary of this range (US $ 1335 support per troy ounce) increases.