Quotes of GOLD continue to move in the ascending channel. At the time of the publication of the forecast, the price of GOLD is 1317 Dollars per Troy Oz. At the moment, we should expect an attempt to grow and test the resistance level near the area of 1320. Where can we expect a rebound and the continuation of the fall in the price of GOLD with the goal below the level of 1295.
XAU/USD Forecast and GOLD analysis March 26, 2019
In favor of falling XAU/USD quotes, the resistance line test on the relative strength index (RSI) will come out. 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 1355. Expect to accelerate the fall of XAU/USD quotes with the breakdown of the lower boundary of the rising channel and closing below the level of 1300.
XAU/USD Forecast and GOLD analysis March 26, 2019 involves an attempt to test the resistance area near the level of 1320. Further, the continuation of the fall in quotations with a target below 1295. 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 1355.
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