Quotes of GOLD continue to move in the correction. At the time of the publication of the forecast, the price of GOLD is 1194 Dollars per Troy Oz. At the moment, we should 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 1175.
XAU/USD forecast GOLD & analysis October 9, 2018
In favor of the fall of XAU/USD quotes, a test of the resistance line 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 1245 level.
XAU/USD forecast GOLD & analysis October 9, 2018 implies an attempt to test the resistance area near the level of 1205 and continue falling quotations with a target below the level of 1175, canceling the option of lowering gold prices will make a strong growth and a breakdown of 1215, which will indicate resistance, in this case, we should expect continued growth of gold above the level of 1245.
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