Quotes of GOLD continue to move within the correction. At the time of publication of the forecast, the GOLD price is 1190 Dollars for the 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 the level of 1155.
XAU/USD forecast GOLD & analysis August 24, 2018
In favor of the growth of quotations XAU/USD will perform a bearish trend test on the indicator of relative strength index (RSI). The cancellation of the decline in the price of GOLD will result in a strong growth and breakdown of the area 1205, which will indicate the breakdown of the upper border of the channel and the continuation of growth in the area above the level of 1235. To expect confirmation of the fall in quotations XAU/USD stands with the breakdown of the lower boundary of the bullish channel and closing below the level of 1180.
XAU/USD forecast GOLD & analysis August 24, 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 1155, the cancellation of the variant of falling prices for GOLD will break through the level of 1205, which will indicate a breakdown of the resistance level, in this case, we should expect the continuation of growth above the level of 1235.
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