Quotes of GOLD continue to move in the correction. At the time of the publication of the forecast, the price of GOLD is 1225 Dollars per Troy Oz. At the moment, we should expect an attempt to test the resistance level near the area of 1227. Where should we expect a rebound and the continuation of the decline in the price of Gold with a goal below 1205.
XAU/USD forecast GOLD & analysis November 27, 2018
In favor of falling XAU/USD quotes, a test of the bearish resistance 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 the 1255 level. Expect confirmation of a drop in XAU/USD quotes with the breakdown of the support area and closing below the 1215 level.
XAU/USD forecast GOLD & analysis November 27, 2018 suggests an attempt to test the resistance area near the level of 1227. Further, the continued decline in quotations with a target below 1205. The cancellation of the option of falling GOLD prices will be a strong increase and the breakdown of 1235. This will indicate breakdown resistance. In this case, one should expect continued growth of gold above the level of 1255.
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