Quotes of GOLD continue to move within the limits of the decline. At the time of publication of the forecast, the GOLD price is 1192 Dollars for the Troy Ounce. At this point, we should expect an attempt to test the resistance level near the area of 1200. Where can we expect a rebound and the continuation of the fall in the price of gold with a target below the level of 1175.
XAU/USD forecast GOLD & analysis September 5, 2018
In favor of falling quotations XAU/USD will perform a test of a broken trend line on the indicator of relative strength index (RSI). Abolishing the variant of falling prices for GOLD will be a strong growth and breakdown of the area 1205, which will indicate the breakdown of the resistance area and the continued growth in the area above the level of 1225. To expect confirmation of the fall in quotations XAU/USD stands with the breakdown of the support area and closing below the level of 1185.
XAU/USD forecast GOLD & analysis September 5, 2018 suggests an attempt to test the resistance area near the level of 1200 and the continuation of the drop in quotations below the level of 1175, the cancellation of the variant of falling prices for GOLD will break through the level of 1205, which will indicate the breakdown of the resistance level, in this case, we should expect the continuation of GOLD growth above the level of 1225.
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