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 1196 Dollars for the Troy Ounce. At this point, we should expect a test of the resistance level near the area of 1200. Where can we expect a rebound and continue to reduce the price of GOLD with a target below the level of 1170.
XAU/USD forecast GOLD & analysis September 27, 2018
In favor of falling quotations XAU/USD will test the trend line on the indicator of relative strength index (RSI), as well as rebound from the resistance area. Abolishing the variant of falling prices for GOLD will be a strong growth and breakdown of the 1215 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 quotations is with the breakdown of the lower limit of the model and the closing below the level 1190.
XAU/USD forecast GOLD & analysis September 27, 2018 suggests an attempt to test the resistance area near the level of 1200 and the continuation of the drop in quotes below the level of 1170, the cancellation of the decline in gold prices will cause a strong growth and breakdown at level 1215, 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.
