Quotes of GOLD continue to move in the correction. At the time of the publication of the forecast, the price of GOLD is 1199 Dollars per Troy Oz. At the moment, we can expect an attempt to test the resistance level near the area of 1205. Where should we expect a rebound and continue to reduce the price of Gold with a target below 1165.
XAU/USD forecast GOLD & analysis October 5, 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. Cancellation of the option of falling GOLD prices will be a strong growth and the breakdown of the area of 1215, which will indicate a breakdown of the resistance area and continued growth in the area above the level of 1245. Expect confirmation of falling quotes XAU/USD stands with the breakdown of the support area and closing below the level of 1190.
XAU/USD forecast GOLD & analysis October 5, 2018 suggests an attempt to test the resistance area near the level of 1205 and continue falling quotations with a target below 1165, canceling the price cut option for GOLD will make a strong growth and a breakdown of 1215, which will indicate a breakdown resistance, in this case, we should expect continued growth of gold above the level of 1245.
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