Quotes of GOLD continue to move in the bullish correction. At the time of publication of the forecast, the Gold price is 1251 US Dollars. At the moment, we should expect an attempt at a resistance level near the area of 1255. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1215.
XAU/USD forecast & technical analysis July 6, 2018
In favor of falling quotations XAU/USD will come the test of the bearish trend line on the indicator of relative strength index (RSI). The reversal of the decline in GOLD prices will be a strong growth and breakdown of the 1265 area, which will indicate a breakdown of the upper bound of the bearish one and the continuation of growth to the level above the level of 1295. To expect confirmation of the fall in XAU/USD prices is with the breakdown of the support area and closing below the level of 1240.
XAU/USD forecast & technical analysis July 6, 2018 suggests an attempt to test the resistance area near the level of 1255 and the continuation of the drop in quotations below the level of 1210, the cancellation of the variant of falling prices for GOLD will break through the level of 1265, in which case it is expected to continue growing in the area above the level of 1295.
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