Quotes of GOLD continue to move within the correction. At the time of the publication of the forecast, the price of GOLD is 1291 Dollars per Troy Oz. At the moment, we can expect an attempt to reduce and test the level of support near the area of 1275. Where can we expect a rebound and continued growth in the price of GOLD with the goal above the level of 1320.
XAU/USD forecast GOLD & analysis January 9, 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 lower 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 1220. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the resistance area and closing above 1295.
XAU/USD forecast GOLD & analysis January 9, 2019 implies an attempt to test the support area near the level of 1275. Further, the growth of quotations with a target above the level of 1320 will continue.