Quotes of GOLD continue to move within the limits of the decline. At this point, we should expect an attempt to test the resistance level near the area of 1335. Where can we expect a rebound and the continuation of the fall in the price of gold with a target below the level of 1315.
XAU/USD forecast & technical analysis April 24, 2018
In favor of falling quotations XAU/USD will come the test of the bearish trend line on the indicator of relative strength index (RSI). The cancellation of the decline in the price of Gold will result in a strong growth and breakdown of the 1345 area, which will indicate the breakdown of the upper boundary of the descending channel and the continuation of growth in the area above the level of 1365. To expect confirmation of the fall in XAU/USD prices is with the breakdown of the support area and closing below the level of 1310.
XAU/USD forecast & technical analysis April 24, 2018 suggests an attempt to test the resistance area near the level of 1345 and the continuation of the fall in quotations below the level of 1310, the cancellation of the fall in the price of GOLD will break through the level of 1345, in which case it is expected to continue growing in the area above the level of 1365.
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