Quotes of GOLD continue to move in growth. At the time of the publication of the forecast, the price of GOLD is 1237 Dollars per Troy Oz. At the moment, we should expect an attempt to reduce and test the level of support near the area of 1230. Where can we expect a rebound and continued growth in the price of GOLD with the goal above the level of 1260.
XAU/USD forecast GOLD & analysis December 7, 2018
In favor of the growth of XAU/USD quotes, a test of the support line on the relative strength index (RSI) will be made. As well as a rebound from the lower boundary of the bullish channel. Cancellation of the option of rising GOLD prices will fall and the breakdown of 1220. This will indicate a breakdown of the lower boundary of the channel and a continued decline to the area below the level of 1195. Expect the 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 7, 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 1260 will continue. Cancellation of the price increase for GOLD prices will be a fall and a breakdown of the level of 1220. This will indicate breakdown of the support area. In this case, we should expect the continuation of the fall of GOLD below the level of 1195.