GOLD close the trading week near the 1322 area. The quotes continue to move within the bullish channel. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to reduce and test the support level near the 1300 area. Further, the GOLD price will continue to rise with a potential target above the level of 1380.
GOLD Forecast and Analysis February 25 — March 1, 2019
In favor of the growth of quotations and prices for GOLD in the current trading week of February 25 — March 1, 2019, a test of the rising trend line on the relative strength index (RSI) will be made. As well as a rebound from the lower boundary of the bullish channel. The decline in the XAU/USD growth option will be canceled by the fall and the breakdown of the area of 1275. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in GOLD prices with a target below the level of 1225. The breakdown of the resistance level and closing above the area of 1350 will confirm the growth development.
GOLD Forecast and Analysis February 25 — March 1, 2019 implies an attempt to test the support level near the 1300 area. Then, the GOLD prices continue to rise with a target above the 1380 level. The support line test on the relative strength index (RSI) will support the growth. Cancellation of the growth of gold will fall and the breakdown level of 1275. This will indicate a continued decline in quotations in the area below the level of 1215.
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