Quotes Gold XAU USD continues to move in the development of ascending correction. At the moment, the value of the relative strength indicator testing rising trend line, indicating that the attempt to rebound and continued growth in the region above the level of 1233.
XAU USD Forecast gold on February 8, 2017
However, there is also formed a forex model Wedge, a breakdown of which is expected to continue falling of quotations and prices of gold in the area below 1220.
Cancellation option will be a strong growth above the level of 1240, which points to the continued growth of quotations in the area above the level of 1250.
XAU USD Forecast gold on February 8, 2017 suggests an attempt to increase in 1233, from the beginning to revive is turning into within mining forex Wedge pattern with a potential target of the fall to below 1220.
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