GOLD weekly forecast October 29 — November 2, 2018


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GOLD XAU/USD complete the trading week near the 1236 area. The quotes continue to move as part of the «Triangle» model. At the moment, we should expect an attempt to grow and test the level of support near the 1210 area. Then, the continuation of the growth in the price of GOLD with a potential target above the level of 1285 began.

GOLD weekly forecast October 29 — November 2, 2018

In favor of the growth of quotations and prices for GOLD in the current trading week October 29 — November 2, 2018 will test the trend line on the indicator of relative strength index (RSI). 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 a target below the level of 1155. The upside trend will be confirmed by the resistance area and closing above the level of 1255, indicating acceleration GOLD price growth.

GOLD weekly forecast October 29 — November 2, 2018

GOLD weekly forecast October 29 — November 2, 2018 suggests an attempt to test the support level near the 1210 area and continue to increase the price of GOLD with a target above the level of 1285, in favor of growth will be a test of the trend line on the relative strength index (RSI), canceling the option GOLD growth 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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