Quotes of GOLD XAU/USD continue to move within the limits of the decline. At this point, we should expect an attempt to test the resistance level near the level of 1272 and continue falling below the level of 1250. In favor of lowering the quotes XAU/USD will test the resistance line on the indicator of relative strength index (RSI).
XAU/USD forecast & technical analysis on December 7, 2017
Canceling the variant of falling prices for Gold will be the breakdown of the area of 1275, which will indicate the breakdown of the upper border of the channel and the continuation of growth in the area above the level of 1290. Expect the acceleration of the fall of XAU/USD with a breakdown of level 1260.
XAU/USD forecast & technical analysis on December 7, 2017 assumes a 1272 test at the level of 1272 and the continuation of the drop in quotes below the level of 1250, the cancellation of the GOLD price cutback will trigger a breakdown at level 1275.