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 1306 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 1305. Where should we expect a rebound and the continuation of the growth in the price of Gold with the goal above the level of 1335.
XAU/USD Forecast and GOLD analysis February 15, 2019
In favor of the growth of XAU/USD quotes, a test of the support line on the relative strength index (RSI) will be made. As well as a rebound from the lower border of the model «Triangle». Cancellation of the option of rising GOLD prices will fall and the breakdown of 1295. This will indicate the breakdown of the support area and the continuation of falling into the area below 1275. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the resistance area and closing above the level of 1320.
XAU/USD Forecast and GOLD analysis February 15, 2019 implies an attempt to test the support area near the level of 1305. Further, the continuation of the growth of quotations with a target above the level of 1335. Cancellation of the option of raising the price of GOLD will fall and the breakdown of the level of 1295. This will indicate a breakdown of the support area. In this case, we should expect the continuation of the fall of GOLD below the level of 1275.