KENJICHEN

0506-XAUUSD Analysis

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar

XAUUSD
Gold experienced high volatility last week during FED and USNFP released, however, gold reconfirm the support level around at 1267.

As we can see, two bottom may construct if gold maintain the momentum to push up, moreover, 1277 will be a critical level to hold to uptrend.

In another way, 1288 around FED high will need to breakout as long as uptrend is return truly.

For today's trading, Asia mkt rose to 1286 and face resistance, thus, its probably gold may have correction to the hardly soar in Friday. Therefore, we should better find good support level to long gold as I recommend around at 1279.

Support: 1279 / 1277
Resistance: 1285.7 / 1288.6
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