Quotes of GOLD continue to move in the downward channel. At the time of the publication of the forecast, the price of GOLD is 1308 Dollars per Troy Oz. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 1315. Where can we expect a rebound and the continuation of the fall in the price of GOLD with the goal below the level of 1275.
XAU/USD Forecast and GOLD analysis March 20, 2019
In favor of the fall in XAU/USD quotes, a test of the resistance area on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the descending channel. Cancellation of the option of falling GOLD prices will be a strong growth and a breakdown of 1325. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 1350. Expect to accelerate the fall of XAU/USD quotes with the breakdown of the lower boundary of the channel and closing below 1295.
XAU/USD Forecast and GOLD analysis March 20, 2019 involves an attempt to test the resistance area near the level of 1315. Further, the continuation of the fall in quotations with a goal below the level of 1275. Cancellation of the option of falling gold prices will be a strong growth and a breakdown of the level of 1325. This will indicate breakdown of the resistance area. In this case, it is worth expecting the continuation of the rise of GOLD above the level of 1350.
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