Quotes of GOLD continue to move within the bearish channel of the formation of the «Triangle» model. At this point, we should expect an attempt to test the resistance level near the area of 1315. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1285.
XAU/USD forecast & technical analysis May 9, 2018
In favor of falling quotations XAU/USD will test the trend line on the indicator of relative strength index (RSI), as well as test the upper boundary of the bearish channel. Cancellation option on gold prices fall will be strong growth and the breakdown of the field in 1325, which points to the breakdown of the upper limit of the downward channel, and continued growth in the region above the level of 1355. Expect confirmation of quotations fall XAU/USD worth a breakdown of the lower limit of the model of «Triangle» and a close below level 1305.
XAU/USD forecast & technical analysis May 9, 2018 suggests an attempt to test the resistance area near the level of 1315 and the continuation of the fall in quotations below the level of 1285, the cancellation of the fall in the price of GOLD will break through the level of 1325, in which case it is expected to continue growing in the area above the level of 1355.
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