Quotes of GOLD continue to move in the fall. At the time of the publication of the forecast, the price of GOLD is 1214 Dollars per Troy Oz. At the moment, we should expect an attempt to test the resistance level near the area of 1220. Where should we expect a rebound and the continuation of the decline in the price of GOLD with a target below 1195.
XAU/USD forecast GOLD & analysis November 29, 2018
In favor of falling XAU/USD quotes, a test of the downward resistance line on the relative strength index (RSI) will come out. As well as a rebound from the upper boundary of the descending channel. Cancellation of the option of falling GOLD prices will be a strong growth and a breakdown of the 1225 area. This will indicate a breakdown of the resistance area and continued growth to the area above the 1245 level. Expect confirmation of a drop in XAU/USD quotes with the breakdown of the support area and closing below the 1210 level.
XAU/USD forecast GOLD & analysis November 29, 2018 suggests an attempt to test the resistance area near the level of 1220. 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 1225. This will indicate breakdown resistance. In this case, we should expect the continuation of the growth of GOLD above the level of 1245.
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