Gold of XAU/USD is trading at the level of 1261.19. GOLD continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an upward trend in gold. It is expected to test the area of signal lines near the level of 1255.0, from which one should expect an attempt of growth and development of a bullish trend for GOLD near the level of 1283.00.
XAU/USD prediction & signals on May 24, 2017
Earlier, we received a weak signal for buy of GOLD, due to the crossing of signal lines at the level of 1225.00. The cancellation of the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1235.00, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1279.00.
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