GOLD is trading at 1318. XAU/USD is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo signal line area test is near the level of 1325, from which it is expected to rebound and continue the development of a bearish trend in GOLD with a target to falling near the level of 1295. In favor of the drop, a resistance level test will perform.
GOLD prices forecast XAU/USD on February 12, 2018
Previously, a strong signal was received for the sell of GOLD, due to the crossing of the signal lines at the level of 1337. Canceling the option of dropping Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the area of 1345, indicating a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the support area and closing below the level of 1305.
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