KENJICHEN

0528- XAUUSD Analysis

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

XAUUSD
As last week ideas mentioned, gold may counter downward pressures around 1284 due to cyclical factors, if once gold can't stand on 1280 the another plunge will come.

However, gold lack of momentum on Monday by struggle around 1285 then pull back this earlier, so its obviously in consolidation mode. Without break resistance area, stay short side for daily trade first.

Consider short at 1284 and target 1280 as long as trend line can't break.

Support: 1280 / 1277
Resistance: 1287 / 1289
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