Quotes of GOLD continue to move in a bearish trend. At this point, we should expect a resistance level attempt near the 1280 area. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1255.
XAU/USD forecast & technical analysis June 21, 2018
In favor of falling quotations XAU/USD will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the growth of the price for GOLD will be a strong growth and breakdown of the 1280 area, which will indicate the breakdown of the upper bound of the descending one and the continuation of growth to the level above the level of 1300. To expect confirmation of the fall in quotes XAU/USD stands with the breakdown of the support area and closing below the level of 1265.
XAU/USD forecast & technical analysis June 21, 2018 suggests an attempt to test the resistance area near the level of 1280 and the continuation of the fall of quotations below the level of 1255, the cancellation of the variant of falling prices for GOLD will break through the level of 1280, in which case it is necessary to expect further growth in the area above the level of 1300.
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