KENJICHEN

0204-XAUUSD Analysis.

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

XAUUSD
As I mentioned at Friday, gold will test FED support area for correction.
Its obviously do short for trading today, cuz Asia and Euro trading time keep downward and approach to 1309.
Due to gold custom law, it will bounce around at 13:00 chart time, you may have chance to long to pursue short-term profit.
But I recommend to short till bounce to 1313, if 1309 can't hold then will see 1306.

Support: 1306 / 1309

Resistance: 1313 / 1316.5
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