Quotes of GOLD continue to move within the framework of lateral movement and formation of the «Triangle» model. At the time of publication of the forecast, the GOLD price is 1200 Dollars for the Troy Ounce. At this point, we should expect an attempt to test the resistance level near the area of 1205. Where can we expect a rebound and continue to reduce the price of GOLD for a target below the level of 1170.
XAU/USD forecast GOLD & analysis September 26, 2018
In favor of falling quotations XAU/USD will test a bearish trend line on the indicator of relative strength index (RSI), as well as a rebound from the upper boundary of the model «Triangle». Canceling the variant of falling prices for GOLD will be a strong growth and breakdown of the 1220 area, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of growth to the level above the level of 1250. To wait for the confirmation of the fall of XAU/USD quotes stands with the breakdown of the lower boundary of the model and closing below the level 1210.
XAU/USD forecast GOLD & analysis September 26, 2018 suggests an attempt to test the resistance area near the level of 1205 and the continuation of the drop in quotes below the level of 1170, the cancellation of the decline in Gold prices will be followed by strong growth and a breakdown at level 1220, which will indicate a breakdown borders of the «Triangle» model, in this case it is necessary to expect the continuation of the growth of GOLD above the level of 1250.
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