Gold XAU/USD is trading at the level of 1221.55. Gold is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Gold. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1230.00, from which one should expect an attempt to fall and further develop the bearish trend for Gold with a view to lower near the level of 1187.00.
GOLD price forecast & analysis XAU/USD on July 13, 2017
Earlier, a strong signal was received for the sale of GOLD, due to the crossing of the signal lines at the level of 1245.50. Canceling the option of dropping Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1239.00, indicating a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the local minimum area at 1200.00.
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