Gold Quotes XAU/USD continue to move in the framework of the formation of the head and shoulders reversal pattern. At the moment quotations again test the area of the right shoulder. It is worth expecting an attempt to fall within the framework of the development of the reversal model «Failure Swing» on the indicator of relative strength index (RSI) with a potential target at 1250.
XAU USD (GOLD) forecast & analysis on May 24, 2017
The reversal of the fall will be a strong growth and breakdown of the 1265 area, indicating that the growth will continue above the level of 1275, where again we should expect a fall attempt.
XAU USD (GOLD) forecast & analysis on May 24, 2017 assumes a fall attempt with the first target at 1250, the continuation of the decline and the test of the 1225 area, will indicate the completion of the forex reversal pattern «Head and Shoulders», in which case it is expected to continue falling quotations & the price of GOLD.
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