GOLD continue to move as part of the growth and upward channel. At the time of the publication of the forecast, the price of GOLD is 1484 Dollars per Troy Oz. Moving averages indicate a short-term bearish trend that is nearing completion. As you can see, prices broke through the area between the signal lines up. At the moment, we should expect an attempt to fall and test the support level near the area of 1475. Where can we expect a rebound and continued growth in the price of GOLD with a target above the level of 1535.
XAU/USD Forecast and GOLD analysis December 24, 2019
An additional signal in favor of the growth of XAU/USD quotes will be an uptrend line test on the relative strength index (RSI). The second signal in favor of a rise in gold prices will be a rebound from the lower border of the bullish channel. Cancellation of the option of rising GOLD prices on December 24, 2019 will be a fall and a breakdown of the level of 1455. This will indicate a breakdown of the support area and a continued fall to the area below the level of 1410. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the resistance area and closing above the level of 1495.
XAU/USD Forecast and GOLD analysis December 24, 2019 suggests an attempt to test the support area near the level of 1475. Further, continued growth of quotations with the target above the level of 1535. Cancellation of the option to raise GOLD prices will be a fall and a breakdown of the level of 1455. This will indicate breakdown of the support area. In this case, we should expect continued decline in Gold below the level of 1410.
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