KENJICHEN

0318-XAUUSD Analysis

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

XAUUSD
Gold closed above 1300 last trading day and show vigor momentum to bounce.

However, 1298 is the target price we anticipated for short position last week, then gold quickly pull up in Euro trading time.

In this situation, gold may reach 1306 resistance in US market, probably have chance to retrace to 1303 for long opportunity.

In addition, we should be care of the power of retracement happened, if gold can't break 1306 in US market, then it will be a negative signal to Tuesday mkt.

Support: 1300 / 1303

Resistance: 1306 / 1309


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