Quotes of GOLD continue to move within the framework of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the price of GOLD is 1290 Dollars per Troy Oz. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 1295. Where should we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1265.
XAU/USD Forecast and GOLD analysis April 5, 2019
In favor of the fall of the XAU/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper limit of the model «Triangle». Cancellation of the option of falling gold prices will be a strong growth and a breakdown of 1305. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 1325. Expect the acceleration of the falling quotes XAU/USD stands with the breakdown of the support area and closing below the level of 1280.
XAU/USD Forecast and GOLD analysis April 5, 2019 involves an attempt to test the resistance area near the level of 1295. Further, the continuation of the fall in quotations with a target below 1265. Cancellation of the option of falling GOLD prices will be a strong growth and a breakdown of the level of 1305. on the breakdown of the upper boundary of the channel. In this case, it is worth expecting the continuation of the rise of GOLD above the level of 1325.
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