Quotes of GOLD continue to move within the limits of the decline. At the time of publication of the forecast, the GOLD price is 1201 dollars for the Troy Ounce. At this point, we should expect a test of the level of support near the area of 1195. 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 4, 2018
In favor of the growth of quotations XAU/USD will test the bullish trend line on the indicator of relative strength index (RSI). 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 lower border of the channel and the continuation of the decline into the area below the level of 1165. To expect confirmation of the growth of quotations XAU/USD stands with the breakdown of the upper boundary of the bearish channel and closing above the level of 1210.
XAU/USD forecast GOLD & analysis September 4, 2018 suggests an attempt to test the support area near the level of 1195 and the continuation of the growth of quotations above the level of 1225, the cancellation of the variant of the price increase for GOLD will break through the level of 1190, which will indicate the breakdown of the level of support, in this case, we should expect the GOLD decline to continue below the level of 1165.
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