Quotes of GOLD continue to move as part of the formation of the «Head and Shoulders» reversal pattern. At the time of publication of the forecast, the GOLD price is 1195 dollars for the Troy Ounce. At this point, we should expect an attempt to test the resistance level near the area of 1205. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1165.
XAU/USD forecast GOLD & analysis September 6, 2018
In favor of falling quotations XAU/USD will test the resistance area on the indicator of relative strength index (RSI). Canceling the option of falling prices for GOLD will be a strong growth and breakdown of the region of 1215, which will indicate the breakdown of the resistance area and the continuation of growth in the area above the level of 1235. To expect confirmation of the fall in quotations XAU/USD stands with the breakdown of the support area and the closing below the level of 1185.
XAU/USD forecast GOLD & analysis September 6, 2018 suggests an attempt to test the resistance area near the level of 1205 and the continuation of the fall in quotations below the level of 1165, the cancellation of the variant of falling prices for GOLD will break through the level of 1215, which will indicate a breakdown of the resistance level, in this case, we should expect the continuation of GOLD growth above the level of 1235.
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