Quotes of GOLD continue to move within the framework of the formation of the «Triangle» model. At the time of publication of the forecast, the GOLD price is 1194 Dollars for the Troy Ounce. At this point, we should expect a test of the resistance level near the area of 1202. Where can we expect a rebound and the continuation of the fall in the price of gold with a target below the level of 1175.
XAU/USD forecast GOLD & analysis September 12, 2018
In favor of falling quotations XAU/USD will test the resistance area on the indicator of relative strength index (RSI), as well as a rebound from the upper limit of the model «Triangle». The reversal of the decline in GOLD prices will be a strong growth and breakdown of the 1210 area, which will indicate the breakdown of the resistance area and the continuation of growth in the area above the level of 1245. To expect confirmation of the fall in quotations XAU/USD stands with the breakdown of the lower bound of the «Triangle» and closing below level 1187 .
XAU/USD forecast GOLD & analysis September 12, 2018 suggests an attempt to test the resistance area near the level of 1202 and the continuation of the fall of quotations below the level of 1175, the cancellation of the variant of falling prices for GOLD will break through the level of 1210, which will indicate the breakdown of the resistance level, in this case, we should expect the continuation of GOLD growth above the level of 1245.
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