Quotes of GOLD continue to move as part of the decline. At the time of the publication of the forecast, the price of GOLD is 1324 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 1320. Where should we expect a rebound and the continuation of the growth in the price of GOLD with the goal above the level of 1350.
XAU/USD Forecast and GOLD analysis March 1, 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. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of rising GOLD prices will fall and the breakdown of 1310. This will indicate the breakdown of the support area and the continuation of falling into the area below 1300. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the resistance area and closing above 1335.
XAU/USD Forecast and GOLD analysis March 1, 2019 involves an attempt to test the support area near the level of 1320. Further, the continued growth of quotations with a goal above the level of 1350. Cancellation of the option of raising the price of GOLD will fall and a breakdown of the level of 1310. This will indicate breakdown of the support area. In this case, we should expect the continuation of the fall of GOLD below the level of 1300.
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