KENJICHEN

0521-XAUUSD Analysis

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

XAUUSD
Short gold for catching third plunge with targeting below 1268, as we can see gold got small consolidation between 1279~1273 and construct the energy to move forward when interval be break.

In another observe, gold lack the third downward to fulfill basic downtrend pattern, thus we can anticipate gold will drop to new low today.

Consider short gold around at 1277 and target 1268~66 when 1273 can't give sufficient support.

Support: 1273 / 1266
Resistance: 1279 / 1281
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