Quotes of GOLD continue to move within the framework of the «Triangle» model development. At the time of publication of the forecast, the GOLD price is 1206 Dollars for the Troy Ounce. At this point, we should expect a test of the support level near the 1200 area. Where can we expect a rebound and the continued growth in the price of GOLD with a target above the level of 1230.
XAU/USD forecast GOLD & analysis September 14, 2018
In favor of the growth of quotations XAU/USD will test a broken trend line on the indicator of relative strength index (RSI), as well as a rebound from the upper limit of the model «Triangle». Cancellation of the variant of the price increase for GOLD will be the fall and breakdown of the area of 1190, which will indicate the breakdown of the support area and the continuation of the fall into the area below the level of 1165. To expect confirmation of the growth of XAU/USD prices is with the breakdown of the resistance area and the closing above the level of 1220.
XAU/USD forecast GOLD & analysis September 14, 2018 suggests an attempt to test the support area near the level of 1200 and the continuation of the growth of quotations above the level of 1230, the cancellation of the growth scenario of GOLD prices will come down and breakdown at level 1210, which indicates a breakdown of the level support, in this case it is necessary to expect the continuation of the decline of GOLD below the level of 1165.
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