GOLD XAU/USD close the trading week near the area of 1187. Quotes continue to move within the limits of the decline. At this point, we should expect an attempt to grow and test the resistance level near the area of 1205. Then began the continuation of the decline in the price of gold with a potential target below the level of 1140.
GOLD weekly forecast & analysis October 1 — 5, 2018
In favor of falling quotations and prices for GOLD in the current trading week on October 1 — 5, 2018, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the XAU/USD decline will result in a strong growth and breakdown of the 1230 area, which will indicate a breakdown of the upper border of the channel and a continuation of the price increase for GOLD with a target higher than the level of 1265. Confirming the development of the downward trend will break through the support area and the closure below the level of 1180, which will indicate to accelerate the decline in the price of GOLD.
GOLD weekly forecast & analysis October 1 — 5, 2018 suggests an attempt to test the resistance level near the area of 1205 and continue the fall in GOLD prices with a target below 1140, in favor of the decline will test the trend line on the indicator of relative strength index (RSI).
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