GOLD XAU/USD close the trading week near the area of 1208. Quotes continue to move within the framework of the bullish correction. At this point, we should expect an attempt to grow and test the resistance level near the area of 1225. Then began to reduce the price of GOLD with a potential target below the level of 1145.
GOLD weekly forecast & analysis September 24 — 28, 2018
In favor of falling quotations and prices for Gold in the current trading week September 24 — 28, 2018, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the decline in XAU/USD quotations will result in a strong growth and breakdown of the 1245 area, which will indicate the breakdown of the upper border of the channel and the continuation of the price increase for GOLD with a target above the level of 1285. A breakdown of the support area and the closure below the level of 1180 will confirm the development of the bearish trend, which will indicate to continue the growth of the price of GOLD.
GOLD weekly forecast & analysis September 24 — 28, 2018 suggests a test of the resistance level near the 1225 area and the continuation of the fall in GOLD prices with a target below the level of 1145, in favor of the decline will test the trend line on the indicator of relative strength index (RSI).
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