Quotes Gold XAU/USD traded at 1258. Gold continues to move above the moving average with period 55, which indicates the presence of a strong upward trend. Conservative area to buy Gold is located near the lower Bollinger Bands indicator strips border at 1229.
Bollinger Bands forecast Gold on February 27, 2017
At the moment, we can expect the correction to the middle band at the line in 1245, where we should expect continued growth of quotations for the purpose of higher than 1265. Cancellation option will increase in gold prices drop in the breakdown area in 1220, which indicates the potential change in favor of a downward trend.
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