Quotes of GOLD continue to move within the bearish channel. At the time of publication of the forecast, the price of GOLD is 1186 dollars per troy ounce. At this point, we should expect an attempt to test the resistance level near the area of 1195. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below 1125 level.
XAU/USD forecast GOLD & analysis August 17, 2018
In favor of falling quotations XAU/USD will test the resistance line on the indicator of relative strength index (RSI), as well as rebound from the upper boundary of the bearish channel. The cancellation of the decline in the price of GOLD will result in a strong growth and breakdown of the 1210 area, which will indicate the breakdown of the upper border of the channel and the continuation of growth to the level above the level of 1245. Expect the acceleration of the fall in quotations XAU/USD stands with the breakdown of the support area and closing below the level of 1155.
XAU/USD forecast GOLD & analysis August 17, 2018 suggests an attempt to test the resistance area near the level of 1195 and the continuation of the fall in quotations below the level of 1125, the cancellation of the variant of falling prices for GOLD will break through the level of 1210, which will indicate the quotes outflow down channel, in this case we should expect the continuation of growth in the area above the level of 1245.
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