Quotes of GOLD continue to move as part of growth. At the time of the publication of the forecast, the price of GOLD is 1215 Dollars per Troy Oz. At the moment, we can expect an attempt to test the support level near the area of 1205. Where should we expect a rebound and continued growth in the price of GOLD with the target above the level of 1230.
XAU/USD forecast GOLD & analysis October 12, 2018
In favor of the growth of XAU/USD quotes, a test of the trend line on the relative strength index (RSI) will be made. Cancellation of the option of rising GOLD prices will fall and the breakdown of the area of 1195, which will indicate a breakdown of the upper boundary of the model and a continued decline to the area below the level of 1175. Expect confirmation of the growth of XAU/USD quotes with the breakdown of the resistance area and closing above the level of 1220.
XAU/USD forecast GOLD & analysis October 12, 2018 suggests an attempt to test the support area near the level of 1205 and continue the growth of quotations with a target above the level of 1230, the cancellation of the price increase option for GOLD will make a fall and a breakdown of the level of 1195, which will indicate a breakdown of support In this case, we should expect the continuation of the fall of Gold below the level of 1175.