Gold XAU/USD is trading at the level of 1264.63. Gold is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating that there is an bullish trend in GOLD prices. Ichimoku Kinko Hyo Cloud Upper Test is expected near the level of 1258.00, from which one should expect an attempt of growth and development of the bullish trend on Gold near the level of 1274.00.
GOLD forecast & analysis on May 31, 2017
Earlier, a strong signal was received for Gold buying, due to the crossing of the signal lines at the level of 1255.80. Canceling the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1249.00, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1271.00.
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