Quotes of GOLD continue to move in a bearish trend. At this point, we should expect an attempt at a resistance level near the area of 1260. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1245.
XAU/USD forecast & technical analysis June 27, 2018
In favor of falling quotations XAU/USD will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the variant of the growth in the price of GOLD will be a strong growth and breakdown of the 1275 area, which will indicate the breakdown of the upper bound of the bearish one and the continuation of growth to the level above the level of 1295. To wait for the confirmation of the fall of quotations XAU/USD stands with the breakdown of the support area and the closing below the level of 1255.
XAU/USD forecast & technical analysis June 27, 2018 suggests an attempt to test the resistance area near the level of 1260 and the continuation of the fall of quotations below the level of 1245, the cancellation of the variant of falling prices for GOLD will break through the level of 1275, in which case it is expected to continue growing in the area above the level of 1295.
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