Quotes of GOLD continue to move in a strong growth. At the time of the publication of the forecast, the price of GOLD is 1332 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 1325. Where should we expect a rebound and the continuation of the growth in the price of GOLD with the target above the level of 1365.
XAU/USD Forecast and GOLD analysis February 26, 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 boundary of the rising channel. Cancellation of the option of rising GOLD prices will fall and the breakdown of 1315. This will indicate a breakdown of the support area and the continuation of falling into the area below 1300. Expect acceleration of growth of XAU/USD quotes with the breakdown of the resistance area and closing above the level of 1345.
XAU/USD Forecast and GOLD analysis February 26, 2019 implies an attempt to test the support area near the level of 1325. Further, the growth of quotations with a target above the level of 1365 will continue. Cancellation of the price increase for gold prices will fall and the breakdown of the level of 1315 breakdown of the support area. In this case, we should expect the continuation of the fall of GOLD below the level of 1300.