Quotes Gold XAU USD continued development of a strong upward correction, but again quotes are testing the upper limit of the downward channel, where we can expect an attempt to falling prices Gold down. Cancellation option will be a breakdown of the upper boundary of the channel and the continued growth of quotations and price of gold above the level of 1350.
XAU USD forecast gold price on November 3, 2016
An additional signal in favor of the fall is the area of the resistance test for the relative strength indicator, which also points to the drop since the current levels.
XAU USD forecast gold price on November 3, 2016 suggests the test region of the upper boundary of the descending channel’s attempt, where we can expect the beginning of falling and continuing development of the downward trend in gold.