GOLD XAU/USD is trading at 1269. GOLD continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a downward trend in gold. Ichimoku Kinko Hyo Cloud indicator signal lines are expected to be near the level of 1272, from which one should expect a rebound and a further development of the bearish trend over GOLD with a view to falling near the level of 1245.
GOLD prices forecast XAU/USD on November 2, 2017
Earlier, a weak signal was obtained for buy of the Gold, due to crossing of signal lines at 1273 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 1280, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD is with a breakdown of the level of 1265.
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