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 1197 Dollars for the Troy Ounce. At this point, we should expect an attempt to test the level of support near the area of 1190. Where can we expect a rebound and the continued growth in the price of gold with a target above the level of 1225.
XAU/USD forecast GOLD & analysis September 18, 2018
In favor of the growth of XAU/USD quotes, an uptrend test will be performed on the relative strength index (RSI), as well as a rebound from the lower bound of the «Triangle» model. Cancellation of the variant of the price increase for Gold will be the fall and breakdown of the area 1180, which will indicate the breakdown of the support area and the continuation of the fall into the area below the level 1155. To expect confirmation of the growth of quotations XAU/USD stands with the breakdown of the resistance area and the closing above the level of 1215.
XAU/USD forecast GOLD & analysis September 18, 2018 involves an attempt to test the support area near the level of 1190 and the continuation of the growth of quotations above the level of 1225, the abolition of the GOLD price growth scenario will come down and breakdown at level 1180, which will indicate a breakdown of the level support, in this case, we should expect the continuation of the decline in gold below the level of 1155.
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