GOLD XAU/USD close the trading week near the area of 1198. Quotes continue to move within the bearish trend. At the moment, we should expect an attempt at correction and test of the support level near the area of 1180. Then the growth of the GOLD price with the potential target above the level of 1240 began.
GOLD weekly forecast & analysis September 10 — 14, 2018
In favor of the growth of quotations and prices for GOLD in the current trading week on September 10 — 14, 2018, a test of a broken trend line will be made on the indicator of relative strength index (RSI). Cancellation of the variant of growth of XAU/USD quotations will be the fall and breakdown of the area 1155, which will indicate the breakdown of the support area and the continuation of the fall in gold prices with a target below 1105. Proof of the growth will be the breakdown of the resistance area and the closing above the level of 1215, which will indicate the quotes beyond the bearish channel.
GOLD weekly forecast & analysis September 10 — 14, 2018 suggests a test of the support level near the 1180 area and the continuation of the price increase for GOLD with a target higher than the level of 1240, in favor of an upswing the trend line test on the indicator of relative strength index (RSI).
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