KENJICHEN

0207~XAUUSD Analysis.

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

XAUUSD
Gold lack one more correction in recent downward trend. Gold challenge 1302 at euro trading time, but 1302 is not the satisfied point in this correction, obviously see the downward channel, the bounce point is around 1300.
So gold may have another retrace to test low 1302 and 1300.

Short at reversal horizon around chart time 13:00~13:30, or 1309.

Support: 1297 / 1300 /1302

Resistance: 1309 / 1312

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