Quotes of GOLD continue to move in a bearish trend. At the moment, we should expect an attempt at a resistance level near the area of 1258. Where can we expect a rebound and the continuation of the fall in the price of GOLD for a target below the level of 1235.
XAU/USD forecast & technical analysis June 28, 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 Gold price growth scenario will result in a strong growth and breakdown of the 1265 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 1295. To expect confirmation of the fall in XAU/USD prices is with the breakdown of the support area and closing below the level of 1245.
XAU/USD forecast & technical analysis June 28, 2018 suggests an attempt to test the resistance area near the level of 1258 and the continuation of the drop in quotations below the level of 1235, the cancellation of the variant of the fall in GOLD prices will trigger a breakdown at level 1265, in which case it is expected to continue growing in the area above the level of 1295.
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