Quotes of GOLD continue to move in a downward correction. At the time of the publication of the forecast, the price of GOLD is 1279 Dollars per Troy Oz. At the moment, we should expect an attempt to reduce and test the support level near the area of 1270. Where can we expect a rebound and continued growth in the price of GOLD with the goal above the level of 1300.
XAU/USD forecast GOLD & analysis January 2, 2019
In favor of the growth of XAU/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. As well as a rebound from the upper boundary of the bullish channel. Cancellation of the option of rising GOLD prices will fall and the breakdown of 1265. This will indicate a breakdown of the support area and a continued decline to the area below 1250. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the resistance area and closure above 1285.
XAU/USD forecast GOLD & analysis January 2, 2019 implies an attempt to test the support area near the 1270 level. Further, the quotes continue to rise with a target above the 1300 level. The decline in the GOLD price increase will be a drop and a breakdown of the 1265 level. breakdown of the support area. In this case, we should expect the continuation of the fall of GOLD below 1250.