GOLD continue to move as part of a strong growth and a bullish channel. At the time of the publication of the forecast, the price of Gold is 1886 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a correction and test the support level near the 1860 area. Where should we expect a rebound upwards and a continuation of the rise in the price of Gold with a potential target above the level of 1930.
XAU/USD Forecast and GOLD analysis February 18, 2022
An additional signal in favor of the growth of XAU/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for Gold prices on February 18, 2022 will be a fall and a breakdown of the level of 1835. This will indicate a breakdown of the support area and a continuation of the fall to the area below the level of 1785. It is worth expecting an acceleration of the rise in XAU/USD quotes with a breakdown of the resistance area and closing the price above the level of 1905.
XAU/USD Forecast and GOLD analysis February 18, 2022 suggests an attempt to test the support area near the level of 1860. Further, the continuation of the growth of quotations with a target above the level of 1930. Cancellation of the option to raise the price of Gold will be a fall in the value of the asset in the markets and a breakdown of the level of 1835 This will indicate a breakdown of the support area for Gold. In this case, we should expect a continued decline in the price of Gold with a potential target below the level of 1785.
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