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 1295 level and continue falling below the level of 1270. In favor of falling quotations XAU/USD is the formation of the reversal model «Head and Shoulders» on the indicator of relative strength index (RSI).
XAU/USD prediction & technical analysis on November 29, 2017
Canceling the option of reducing the price of GOLD will be a breakdown of area 1305, which indicates the breakdown of the upper boundary of the model «Triangle» and the continued growth. Expect to accelerate the fall of XAU/USD is at the level of 1288, which indicates the development of a downward trend.
XAU/USD prediction & technical analysis on November 29, 2017 assumes a 1295 test at the level of 1295 and the continuation of the fall with a target below the level of 1270, the cancellation of the drop in GOLD prices will trigger a breakdown at level 1305, indicating a breakdown of the upper limit of the «Triangle» model and continued growth.
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