Quotes Gold XAU/USD continue to move within the framework of a bearish correction. At the moment, we should expect an attempt to test the level of 1280 and the beginning of the fall in the area below the level of 1250 as part of the development of the bearish wave model of Wolfe.
XAU/USD forecast & technical analysis GOLD on August 16, 2017
In favor of the growth of quotations XAU/USD is the test of the support line on the indicator of relative strength index (RSI). The cancellation of the variant of the drop in the price of GOLD will be the breakdown of the area of 1295, which will indicate the continuation of the growth of quotations.
XAU/USD forecast & technical analysis GOLD on August 16, 2017 suggests a test of the level of 1280, from which we should expect a rebound and a drop in quotations to the area below the level of 1250 as part of the start-up of the bearish wave model of Wolfe.
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