GOLD close the trading week near the 1244 area. The quotes continue to move within the descending channel. Moving averages indicate a downward trend. At the moment, we should expect an attempt to reduce and test the support level near the 1225 area. Further, the GOLD price will continue to rise with a potential target above the 1270 level.
GOLD weekly forecast & analysis December 10 — 14, 2018
In favor of the growth of quotations and prices for GOLD in the current trading week of December 10 — 14, 2018, a test of the trend line on the relative strength index (RSI) will be made. As well as a rebound from the lower boundary of the rising channel. The drop in the XAU/USD growth option will be canceled by the breakdown and the breakdown of the 1205 area. This will indicate the breakdown of the support area and the continuation of the fall in GOLD prices with the target below 1175. The upside growth of the downward channel and the closing above the 1270 level will confirm the growth. accelerating the growth of the price of GOLD.
GOLD weekly forecast & analysis December 10 — 14, 2018 implies an attempt to test the support level near the 1225 area. Then, the GOLD price will continue to rise with a target above the 1270 level. The trend line test on the relative strength index (RSI) will favor the growth. Cancellation of the growth of GOLD will fall and the breakdown of the level of 1205. This will indicate the continuation of the fall of quotations in the area below the level of 1175.
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