GOLD continue to move within the growth and the rising channel. At the time of the publication of the forecast, the price of GOLD is 1409 Dollars per Troy Oz. Moving averages indicate a short-term bullish trend. At the moment, we should expect an attempt at correction and a test of the support level near the 1395 area. Where can we expect a rebound and continued growth in the price of Gold with a target above the level of 1460.
XAU/USD Forecast and GOLD analysis June 27, 2019
In favor of reducing the XAU/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of raising the price of gold on June 27, 2019 will be a fall and a breakdown of the level of 1370. This will indicate a breakdown of the lower boundary of the channel and a continuation of falling into the area below the level of 1340. Expect the acceleration of growth in quotes XAU/USD with the breakdown of the resistance area and closing above the level of 1435.
XAU/USD Forecast and GOLD analysis June 27, 2019 implies an attempt to test the support area near the level of 1395. Further, the growth of quotations with a target above the level of 1460 will continue. Cancellation of the option of raising the price of gold will fall and a breakdown of the level of 1370. This will indicate breakdown of the lower boundary of the channel. In this case, we can expect a continuation of the decline of Gold below the level of 1340.