Quotes of Gold XAU/USD continue to move within the framework of the development of the upward correction. At this point, we should expect an attempt to test the broken down boundary of the descending channel and continue the growth of quotations and Gold prices in the area above the level of 1240.
XAU/USD forecast Gold prices on May 16, 2017
In favor of the decline is the formation of a reversal model the failure swing on the indicator of relative strength. Cancellation of the variant of the fall of quotations XAU/USD will break through the area of 1235, which indicates the continued growth without testing the border of the channel. In the event of a return of quotations of Gold in the downward channel, we should expect a continuation of the bearish trend in gold prices.
XAU/USD forecast Gold prices on May 16, 2017 suggests an attempt to fall into the 1225 area as part of the development of the reversal model the failure swing on the relative strength index indicator, the breakdown of the level 1235 will be a cancellation.
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