KENJICHEN

0523-XAUUSD Analysis

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

XAUUSD
Gold may struggle between 1272- 1278 today and recharge energy to push forward next trend.

As I mentioned in previous idea, gold just fulfill third downward and its about time to restructure the pattern for next downtrend, moreover, it better for gold to correct above 1277 for getting more short positions.

Once gold can close above 1277 this week, then we can anticipate gold may plunge in following weeks.

In another way, if gold break 1272 directly today then the power of downward will not enough.


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