Quotes Gold XAU/USD continue to move within the framework of the upward correction. At the moment, there is the potential for a tight test of the pierced neckline line of the «Head and Shoulders» reversal pattern. Whence again we should expect a rebound and a drop in quotations of GOLD below the level of 1195.
XAU/USD forecast & technical analysis GOLD on July 18, 2017
In favor of the reduction, a dense test of the resistance line will appear on the indicator of relative strength. Cancellation of the fall option will be a strong growth and breakdown of the level of 1240, which will indicate the continued growth of XAU/USD.
XAU/USD forecast & technical analysis GOLD on July 18, 2017 involves a rebound attempt on the broken neck line and the continuation of Gold’s decline to the area of 1195, an additional signal will enter the trendline test on the relative strength indicator.
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