Quotes of GOLD continue to move within the growth and formation of the Triangle model. At the time of the publication of the forecast, the price of GOLD is 1307 Dollars per Troy Oz. At the moment, we should expect an attempt to fall and a test of the support level near the area of 1295. Where should we expect a rebound and continued growth in the price of GOLD with a target above the level of 1340.
XAU/USD Forecast and GOLD analysis April 11, 2019
In favor of lifting the XAU/USD quotes, a test of the support line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of rising GOLD prices will fall and the breakdown of 1285. This will indicate a breakdown of the support area and a continued decline to the area below 1255. Expect acceleration of growth in XAU/USD quotes with the breakdown of the upper limit of the Triangle model and closure above the level of 1315.
XAU/USD Forecast and GOLD analysis April 11, 2019 implies an attempt to test the support area near the level of 1295. Further, the growth of quotations with a target above the level of 1340 will continue. Cancellation of the price increase for gold will be a fall and a breakdown of the level of 1285. This will indicate breakdown of the lower boundary of the model «Triangle». In this case, we should expect a continuation of the decline of Gold below the level of 1255.
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