Quotes Gold XAU/USD close the trading week near the area of 1270. Quotes continue to move within the bullish model «5-0». At this point, we should expect a rebound from the lower border of the channel and continue to grow above the level of 1330.
In favor of the growth of quotations and prices for GOLD is the test of the support line on the indicator of relative strength index (RSI). Cancellation of the growth scenario for XAU/USD will be the fall and breakdown of the 1240 area, which will indicate the outflow of the quotes out of the channel and the continued decline in the price of GOLD with a potential target near the level of 1205. Expect to accelerate growth is with the breakdown of the area 1305.
XAU/USD forecast on October 30 — November 3, 2017 suggests a rebound and a rise in gold prices with a target above the 1330 level as part of the start-up of the bullish «5-0» model, in favor of growth is the trendline test on the relative strength indicator (RSI).