Quotes of GOLD continue to move within the correction. At the time of the publication of the forecast, the price of GOLD is 1223 Dollars per Troy Oz. At the moment, we should expect an attempt to test the resistance level near the area of 1225. Where should we expect a rebound and the continuation of the decline in the price of GOLD with the target below the level of 1195.
XAU/USD forecast GOLD & analysis November 22, 2018
In favor of falling XAU/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. As well as the formation of the «Head and Shoulders» reversal pattern. Cancellation of the option of falling gold prices will be a strong growth and a breakdown of the 1235 area. This will indicate a breakdown of the resistance area and continued growth in the area above 1250. Expect confirmation of falling quotes XAU/USD stands with the breakdown of the support area and closing below 1215.
XAU/USD forecast GOLD & analysis November 22, 2018 suggests an attempt to test the resistance area near the level of 1225. Further, the continued decline in quotations with a target below the level of 1195. Cancellation of the option of falling GOLD prices will be a strong increase and a breakdown of 1235. This will indicate breakdown resistance. In this case, we should expect the continuation of the growth of GOLD above the level of 1250.
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