Quotes of GOLD XAU/USD continue to move within the framework of the «Triangle» model. At the moment, we should expect a test of the level 1280 and continue falling below the level of 1250. In favor of falling quotations XAU/USD is the breakdown of the support line on the indicator of relative strength index (RSI).
XAU/USD prediction & technical analysis on December 1, 2017
The abolition of the variant of the price reduction for GOLD will be the breakdown of the area of 1295, which will indicate the breakdown of the upper boundary of the «Triangle» model and the continuation of growth. Expect to accelerate the fall of XAU/USD is with the breakdown of the lower bound of the «Triangle» model and the closing of quotations below the level of 1265, which will indicate the continuation of the downward trend.
XAU/USD prediction & technical analysis on December 1, 2017 presupposes a 1280 test of the test and the continuation of the fall with a target below the level of 1250, the cancellation of the drop in GOLD prices will trigger a breakdown at level 1295, indicating a breakdown of the upper bound of the «Triangle» continued growth.
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