Quotes of GOLD continue to move in growth. At the time of the publication of the forecast, the price of GOLD is 1238 Dollars per Troy Oz. At the moment, we should expect an attempt to reduce and test the level of support near the 1230 region. Where can we expect a rebound and continued growth in the price of GOLD with the target above the level of 1255 within the framework of working out the «Triangle» model.
XAU/USD forecast GOLD & analysis December 6, 2018
In favor of the growth of XAU/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. Cancellation of the option of rising GOLD prices will fall and the breakdown of 1215. This will indicate a breakdown of the support area and a continued decline to the area below 1195. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the resistance area and closing above the level of 1245.
XAU/USD forecast GOLD & analysis December 6, 2018 implies an attempt to test the support area near the level of 1230. Further, the growth of quotations with a target above the level of 1255 will be canceled. breakdown of the support area. In this case, we should expect the continuation of the fall of GOLD below the level of 1195.
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