GOLD XAU/USD close the trading week near the 1219 area. The quotes continue to move as part of the start of the «Triangle» model. At the moment, we can expect an attempt to grow and test the level of support near the area of 1205. Then, the continuation of the growth of the price of Gold with a potential target above the level of 1260 began.
GOLD weekly forecast & analysis October 15 — 19, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the fall in quotations and prices for GOLD in the current trading week of October 15 — 19, 2018. The cancellation of the growth option of XAU/USD quotes will be the fall and the breakdown of the area of 1190, which will indicate the breakdown of the support area and the continuation of the fall in GOLD prices with the target below the level of 1155. The upside trend will be confirmed by the resistance area and close above the level of 1235, indicating acceleration GOLD price growth.
GOLD weekly forecast & analysis October 15 — 19, 2018 suggests an attempt to test the support level near the 1205 area and continue GOLD price growth with a target above the level of 1260; a test of the trend line on the relative strength index (RSI) will act in favor of growth, canceling the growth option GOLD will fall and the breakdown of the level of 1190, which will indicate a continued decline in quotations in the area below the level of 1155.
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