Gold XAU/USD is trading at 1246. GOLD continues to trade below the moving average with a period of 55, indicating a bearish trend in GOLD. At the moment, GOLD quotes are testing the average border of the Bollinger Bands indicator bars. One should expect an attempt to grow and test the moving average with a period of 55 near the level of 1253, where again we should expect an attempt to continue falling with the first target near the level of 1230.
GOLD price forecast XAU/USD on June 22, 2017
The conservative sales area is located near the lower border of the Bollinger Bands indicator bands at 1254. Canceling the option of continuing the growth of GOLD there will be a breakdown of the upper border area, as well as a moving average and the closing of GOLD quotes above area 1260, which indicates a change in the trend in favor of the bearish on XAU/USD. In the case of fixing quotes below the lower border of the indicator strip, we expect to accelerate the growth of gold in the area below the level of 1230.
