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 reduce and test the support level near the area of 1310. Where can we expect a rebound and the continuation of the growth in the price of Gold with the goal above the level of 1330.
XAU/USD Forecast and GOLD analysis March 27, 2019
A test of the support line on the relative strength index (RSI) will be in favor of the XAU/USD quotes rise. The second signal will be a rebound from the lower boundary of the bullish channel. Cancellation of the option of rising GOLD prices will fall and the breakdown of 1305. This will indicate a breakdown of the support area and a continuation of falling into the area below 1290. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the resistance area and closing above 1325.
XAU/USD Forecast and GOLD analysis March 27, 2019 implies an attempt to test the support area near the level of 1310. Further, the growth of quotations with a target above the level of 1330 will continue. 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 1290.
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