Quotes GOLD XAU/USD close the trading week near the area of 1279. Quotes continue to move within the framework of the upward correction. At the moment, quotes have pushed off the lower border of the channel, we should expect the growth of quotations above the level of 1350.
XAU/USD weekly forecast on October 23 — 27, 2017
In favor of the growth of quotations and prices for GOLD, a test of the support line on the indicator of relative strength index (RSI), as well as the formation of the bullish model 5-0. Cancellation of the growth scenario for XAU/USD will be the fall and breakdown of the area of 1240, which will indicate the outflow of quotes out of the channel and the continued decline in GOLD prices with a potential target near the level of 1205.
XAU/USD weekly forecast on October 23 — 27, 2017 suggests a test of the lower border of the channel, from which it is expected to rebound and a rise in gold prices above the level of 1350 within the development of the bullish «5-0» model, in favor of growth will perform a trend line test on the indicator relative strength (RSI).