GOLD is trading at 1334. Gold is traded within the Ichimoku Kinko Hyo Cloud, indicating a lateral trend over GOLD. Ichimoku Kinko Hyo Cloud near the 1320 level is expected to be tested near the level of 1320, from which it is expected to rebound and continue the development of the bullish trend in Gold for the target of growth near the level of 1355.
GOLD prices forecast XAU/USD on March 8, 2018
An additional signal in favor of XAU/USD growth will be a test of the support level, as well as the formation of the «Head and Shoulders» reversal model. Earlier, we received a weak signal for buy of GOLD, due to the crossing of signal lines at the level of 1318.
Canceling the growth of Gold quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below area 1315, indicating a change in the flat trend in favor of a bearish trend.
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