KENJICHEN

0425-XAUUSD Analysis

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

XAUUSD
Gold had rebounce after reach 1267~69 support level and close at 1274 yesterday, then early market still rising to challenge recent high around 1277~1279.

Even though gold got some energy to rise, but it still in a downward pattern since it break neckline and fail to maintain at least above 1285.

So, the 1279 is critical point for gold to pivot the weakness, moreover, 1279 may give gold mass pressure if downtrend still exist.

Try short around at 1279 and target 1275/1272 for anticipating gold may return weakness in Euro and US market.

Support: 1275 / 1272
Resistance: 1279 / 1282
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