GOLD XAU/USD close the trading week near the area of 1288. Quotes continue to move within the bullish channel. At the moment, we should expect a test of the resistance level near the area of 1310 and the continuation of the fall in the price of GOLD below the level of 1225.
XAU/USD weekly forecast May 21 — 25, 2018
In favor of falling quotations and prices for GOLD will perform a downtrend test of the trend on the indicator of relative strength index (RSI). The cancellation of the fall in the XAU/USD quotation will result in a strong growth and breakdown of the area of 1330, which will indicate the breakdown of the resistance area and the continuation of the price increase for GOLD with a target above the level of 1375. Confirmation of the downward trend development will break through the lower boundary of the rising channel and close below the 1235 area.
XAU/USD weekly forecast May 21 — 25, 2018 suggests an attempt to test the resistance level near the 1310 area and the beginning of the fall in GOLD prices with a target below the level of 1225, in favor of the fall, the trendline test will be performed on the indicator of relative strength index (RSI).