GOLD close the trading week near the 1285 area. The quotes continue to move in the ascending channel. Moving averages indicate a lateral trend. At the moment, we should expect an attempt to reduce and test the support level near the area of 1265. Further, the continued increase in the price of GOLD with a potential target above the level of 1365.
GOLD Forecast and Analysis January 21 — 25, 2019
In favor of the growth of quotations and prices for GOLD in the current trading week of January 21 — 25, 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 1245 area. This will indicate the breakdown of the lower boundary of the channel and the continuation of the fall in GOLD prices with the target below the level of 1195. The breakdown of the resistance level and the closure above the 1300 area will confirm the growth. GOLD price growth.
GOLD Forecast and Analysis January 21 — 25, 2019 suggests an attempt to test the support level near the 1265 area. Then, the GOLD price will continue to rise with a target higher than the 1365 level. The support line test on the relative strength index (RSI) will be in favor of the increase. Cancellation of the growth of gold will fall and the breakdown level of 1245. This will indicate a continued decline in quotations in the area below the level of 1195.