GOLD is trading at 1332. GOLD is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud is expected to test near the 1335 level, from which it is expected to rebound and continue the development of the bearish trend for GOLD with a target to falling near the level of 1310.
GOLD prices forecast XAU/USD on February 28, 2018
Earlier, a weak signal was obtained for the buy of GOLD, due to crossing of signal lines at 1335 level. 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 bottom of the channel and closing below the level of 1320.
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