GOLD Quotes XAU/USD continue to move in the framework of the formation of the reversal forex pattern “Head and Shoulders”. At this point, we should expect an attempt to test the upper boundary of the downlink at the level 1270 and the beginning of the drop GOLD quotes and prices.
XAU/USD forecast GOLD prices on May 22, 2017
In favor of the decline is the formation of a reversal pattern “The Failure Swing” on the indicator of relative strength index (RSI). Canceling the option of lowering the quotations XAU/USD will break through the area of 1280, indicating that the continued growth GOLD prices.
XAU/USD forecast GOLD prices on May 22, 2017 suggests a test of the level 1270 and the beginning of the fall as part of the working out of the bearish forex model “5-0” with the first target of falling to the level of 1215, the cancellation will be a breakdown of the upper boundary of the bearish channel.
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