Quotes of GOLD continue to move in line with the decline. At the time of the publication of the forecast, the price of GOLD is 1189 Dollars per Troy Oz. At the moment, we should expect an attempt to test the resistance level near the area of 1193. Where should we expect a rebound and continue the decline in the price of GOLD with the goal below the level of 1170.
XAU/USD forecast GOLD & analysis October 10, 2018
In favor of the fall of XAU/USD quotes, a test of the resistance line on the relative strength strength index (RSI) will come out. Cancellation of the option of falling GOLD prices will be a strong growth and a breakdown of the 1200 area, which will indicate a breakdown of the upper boundary of the bearish channel and continued growth to the area above 1225. Expect confirmation of a fall in the XAU/USD quotes with the breakdown of the support area and closing below 1180.
XAU/USD forecast GOLD & analysis October 10, 2018 implies an attempt to test the resistance area near the level of 1193 and continue the fall of quotations with the goal below the level of 1170, canceling the option of reducing the price of GOLD will make a strong growth and a breakdown of 1200, which will indicate breakdown resistance, in this case, we should expect continued growth of gold above the level of 1225.