GOLD XAU/USD close the trading week near the area of 1275. Quotes continue to move in the formation of the model «Triangle». At the moment, we should expect a rebound test of the broken channel’s broken channel and the continuation of GOLD fall below the level of 1210.
XAU/USD weekly forecast on November 13 — 17, 2017
In favor of lower quotations and prices for GOLD, a breakdown of the support line on the indicator of relative strength index (RSI) will perform. The cancellation of the fall of XAU/USD quotations will result in a strong growth and breakdown of the 1300 area, which will indicate the outflow of quotes outside the «Triangle» model and the continuation of the price increase for GOLD. Expect to accelerate the fall is with the breakdown of the area 1255.
XAU/USD weekly forecast on November 13 — 17, 2017 suggests a test of the broken channel border and the continuation of the fall in GOLD prices with a target below the level of 1210, in favor of the decline will break the trend line on the indicator of relative strength index (RSI).