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 1198 Dollars for the Troy Ounce. At this point, we should expect an attempt to test the level of support near the area of 1192. 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 19, 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 region 1185, which will indicate the breakdown of the support area and the continuation of the fall to the area below the level 1155. To expect confirmation of the growth of quotations XAU/USD stands with breakdown of the upper boundary of the model and closing above the level of 1215.
XAU/USD forecast GOLD & analysis September 19, 2018 suggests an attempt to test the support area near the level of 1192 and the continuation of the growth of quotations above the level of 1225, the abolition of the growth of prices for GOLD will fall and breakdown at level 1185, which indicates 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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