GOLD close the trading week near the 1283 area. The quotes continue to move within the bullish channel. Moving averages indicate a lateral trend. At the moment, it is worth expecting an attempt to reduce and test the support level near the area of 1265. Further continuation of the growth of the price of GOLD with a potential target above the level of 1355.
GOLD Forecast and Analysis January 28 — February 1, 2019
In favor of the growth of quotations and prices for GOLD in the current trading week January 28 — February 1, 2019 will test the rising trend line on the indicator of relative strength index (RSI). As well as a rebound from the lower boundary of the rising 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 Forecast and Analysis January 28 — February 1, 2019 implies an attempt to test the support level near the area of 1265. Then, the GOLD prices continue to rise with the target above the level of 1355. The test will be supported by the support line test on the relative strength index (RSI). 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.
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