Quotes of Gold XAU/USD continue to move within the limits of growth. At the moment, we should expect an attempt to drop the quotes below the level of 1275. Again, we should expect a rebound and a rise in GOLD prices above the level of 1320 within the beginning of the development of the bullish «5-0» model.
XAU/USD prediction & technical analysis on October 16, 2017
In favor of falling quotations XAU/USD is the formation of a reversal model the «Failure Swing» on the indicator of relative strength index (RSI). The cancellation of the variant of the growth of the price for Gold will be the breakdown of the area of 1260, which will indicate that the price of Gold XAU/USD continues to fall below the level of 1225.
XAU/USD prediction & technical analysis on October 16, 2017 presupposes an attempt to test the broken channel border near the 1275 area, from which it is expected to rebound and continue the growth of prices for GOLD above the level of 1320, the cancellation of the growth option will be the breakdown of the 1260 area.