Quotes Gold XAU/USD close the trading week near the area of 1300. Quotes continue to move within the framework of the upward correction. At the moment GOLD has rebounded from the lower border of the channel, it is necessary to expect the growth of quotations above the level of 1350. It is worth to wait for the test of the level of 1280 and the continuation of growth.
XAU/USD weekly forecast on October 16 — 20, 2017
In favor of the growth of quotations and prices for gold, there is a rebound from the support line on the indicator of relative strength index (RSI), as well as the formation of the bullish model «5-0». Cancellation of the variant of growth of quotations XAU/USD will fall and breakdown of the area 1240, which will indicate the continued decline in the price of GOLD with a potential target near the level of 1205.
XAU/USD weekly forecast on October 16 — 20, 2017 suggests a test of the lower border of the channel near the area of 1280, from which it is expected to rebound and a rise in gold prices above the level of 1350 within the development of the bullish «5-0» model, in favor of growth is a rebound from trend line on the indicator of relative strength index (RSI).