Quotes of GOLD continue to move in a bearish trend. At this point, we should expect an attempt to test the upper limit of the model «Triangle» near area 1302. Where can we expect a rebound and the continuation of the fall in the price of gold for a target below the level of 1265.
XAU/USD forecast & technical analysis June 12, 2018
In favor of falling quotations XAU/USD will test the trend line on the indicator of relative strength index (RSI), as well as a test of the resistance level. Abolishing the variant of falling prices for GOLD will be a strong growth and breakdown of the area of 1310, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of growth in the area above the level of 1345. To expect confirmation of the fall in quotes XAU/USD stands with the breakdown of the lower bound of the «Triangle» model and closing below the level of 1285.
XAU/USD forecast & technical analysis June 12, 2018 suggests an attempt to test the resistance area near the level of 1302 and the continuation of the fall of quotations to below the level of 1265, the cancellation of the variant of falling prices for GOLD will break through the level of 1310, in this case it is necessary to expect further growth in the area above the level of 1345.
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