Quotes of GOLD XAU/USD continue to move within the bearish channel. At this point, we should expect an attempt to test the upper border of the channel near the 1265 area and continue falling below the level of 1220. In favor of lowering the quotes XAU/USD will test the resistance line on the indicator of relative strength index (RSI).
XAU/USD forecast & technical analysis on December 20, 2017
Canceling the variant of falling prices for Gold will be the breakdown of the area 1270, which will indicate the breakdown of the upper boundary of the descending channel and the continuation of growth in the area above the level of 1285. Expect the acceleration of the fall of XAU/USD with a breakdown at level 1255.
XAU/USD forecast & technical analysis on December 20, 2017 suggests an attempt to test the resistance level near the area of 1265 and the continuation of the fall of quotations with a target below the level of 1225, the cancellation of the variant of lowering the price of GOLD will trigger a breakdown at level 1270.
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