GOLD XAU/USD close the trading week near the area of 1274. Quotes continue to move within the limits of the decline. At the moment, we should expect a test of the upper boundary of the bearish channel near the level of 1285 and the continuation of the fall below the level of 1220.
XAU/USD weekly forecast on December 25 — 29, 2017
In favor of the drop in quotations and Gold prices, the resistance area test will be performed on the indicator of relative strength index (RSI). The cancellation of the fall in XAU/USD quotations will result in a strong growth and breakdown of the 1295 area, which will indicate that GOLD prices continue to rise with the target above the level of 1325. The 1255 breakdown is expected to accelerate the fall.
XAU/USD weekly forecast on December 25 — 29, 2017 assumes a test of the upper limit of the descending channel and the continuation of the fall in gold prices below the level of 1220, in favor of the drop will test the resistance area on the indicator of relative strength index (RSI), the abolition of the decline option will be a breakdown at level 1285, which indicates the continued growth.
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