GOLD continue to move within the growth and the rising channel. At the time of the publication of the forecast, the price of Gold is $ 1404 per Troy Oz. Moving averages indicate a short-term bullish trend. At the moment, we can expect an attempt at correction and a test of the support level near the area of 1390. Where can we expect a rebound and the continuation of the growth in the price of Gold with the target above the level of 1465.
XAU/USD Forecast and GOLD analysis June 28, 2019
In favor of reducing the XAU/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of raising the price of gold on June 28, 2019 will fall and the breakdown of the level of 1375. This will indicate a breakdown of the lower boundary of the channel and the continuation of falling into the area below the level of 1345. Expect the acceleration of the growth of quotes XAU/USD with the breakdown of the resistance area and closing above the level of 1415.
XAU/USD Forecast and GOLD analysis June 28, 2019 implies an attempt to test the support area near the level of 1390. Further, the growth of quotations with a target above the level of 1465 will continue. Cancellation of the price increase for gold will be a fall and a breakdown of the level of 1375. This will indicate breakdown of the lower boundary of the channel. In this case, we should expect a continuation of the decline of Gold below the level of 1345.
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