Gold XAU/USD is trading at the level of 1257.58. Gold is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating that there is an bullish trend in Gold. It is expected to test the area of signal lines near the level of 1246.0, from which one should expect an attempt of growth and development of a bullish trend for Gold near the level 1271.00.
Analysis and GOLD price forecast on May 19, 2017
Earlier, we received a weak signal for buy a GOLD, due to the crossing of the signal lines at the level of 1225.00. Canceling the growth of GOLD quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1232.00, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD with the breakdown of the local maximum area at the level of 1267.00.
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