KENJICHEN

0311-XAUUSD Analysis

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

XAUUSD
Gold finally break consolidation pattern and bounce back to 1300 on Friday night, however, gold can't maintain above 1300 in the end, so it gave mkt the signal of correction for today.

In general trend, gold had test 1280 for twice to ensure the bottom of mid-term uptrend, then we should better waiting gold retrace to support area and long for second rebounce.

Therefore, we should take eyes on two critical point: 1. 08:00~09:00 is the reversal horizon that long position may have chance, 2. 1293~1292 are relative strong support area to long.

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