Gold Quotes XAU/USD continue to move within the limits of the decline. At the moment, quotes have broken through the support area. It is worth to wait for the test of the pierced area at the level of 1255 and the continuation of the decline in the drop in quotes and the price of Gold in the area below the level of 1235.
XAU/USD technical analysis & signals on June 20, 2017
In favor of the decline is the formation of the «Head and Shoulders» reversal pattern. Canceling the option of lowering the quotations of XAU/USD will be a breakdown of the area 1265, which will indicate the continuation of the development of the upward correction for Gold.
XAU/USD technical analysis & signals on June 20, 2017 assumes an attempt to continue falling to the area below the level of 1235 within the rebound from the broken resistance area, an additional signal is the formation of the «Head and Shoulders» reversal pattern on the relative strength indicator.
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