GOLD is trading at 1265 and continues to move as part of growth. GOLD is trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a sideways trend in GOLD.
As part of the GOLD forecast & analysis XAU/USD December 25, 2018, a test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 1250. Where should we expect a rebound and continued growth of GOLD with a target near the level of 1285.
GOLD forecast & analysis XAU/USD December 25, 2018
An additional signal in favor of the growth of XAU/USD quotes will be a rebound from the support area. And also test the lower boundary of the ascending channel. Earlier, a medium strength signal was received for BUY the GOLD. The signal was formed due to the intersection of signal lines at the level of 1240.
Cancellation of the price increase for Gold will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 1240 area. XAU/USD stands with the breakdown of the resistance area and closing above the level of 1270.
GOLD forecast & analysis XAU/USD December 25, 2018 suggests an attempt to test the support level near the area of 1250. Where should we expect further growth of quotes with a potential target near the level of 1285. Cancellation of the growth option will be a breakdown of the 1240 region.