Quotes of GOLD continue to move within the correction. At the time of the publication of the forecast, the price of GOLD is 1227 Dollars per Troy Oz. At the moment, we should expect an attempt to test the resistance level near the area of 1230. 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 23, 2018
In favor of the fall in XAU/USD quotes, a test of the resistance area 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 1245 area. This will indicate a breakdown of the resistance area and continued growth to the area above 1265. Expect confirmation of a drop in XAU/USD quotes with the breakdown of the support area and closing below 1195.
XAU/USD forecast GOLD & analysis November 23, 2018 suggests an attempt to test the resistance area near the level of 1230. 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 1245. breakdown resistance. In this case, we should expect continued growth of GOLD above the level of 1265.
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