Quotes of GOLD continue to move as part of growth. At the time of the publication of the forecast, the price of GOLD is 1302 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 1297. Where should we expect a rebound and continued growth in the price of Gold with the goal above the level of 1325.
XAU/USD Forecast and GOLD analysis April 12, 2019
In favor of raising the XAU/USD quotes, a test of the trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of rising gold prices will fall and the breakdown of 1290. This will indicate a breakdown of the support area and a continued decline to the area below 1270. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the upper limit of the downward channel and closing above the level of 1315.
XAU/USD Forecast and GOLD analysis April 12, 2019 implies an attempt to test the support area near the level of 1297. Further, the growth of quotations with a target above the level of 1325 will continue. Cancellation of the option of raising the price of gold will fall and a breakdown of 1290. This will indicate breakdown of the lower boundary of the channel. In this case, we should expect a continuation of the decline of GOLD below the level of 1270.
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