GOLD XAU/USD close the trading week near the area of 1285. Quotes continue to move as part of the formation of the «Triangle» model. At the moment, we should expect a test of the broken border of the bullish channel and the continuation of the fall of GOLD below the level of 1215.
XAU/USD weekly forecast on November 20 — 24, 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 20 — 24, 2017 presupposes a test of the broken channel border and the continuation of the fall in GOLD prices with a target below the level of 1215, in favor of the decline will break the trend line on the indicator of relative strength index (RSI), which indicates the continued growth.
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