GOLD is trading at 1223 and continues to move as part of growth. GOLD is trading inside 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 3, 2018, a test of the area of Ichimoku Kinko Hyo signal lines near the level of 1220 is expected. Where can we expect a rebound and continued growth of Gold with a target near the level of 1245.
GOLD forecast & analysis XAU/USD December 3, 2018
An additional signal in favor of the growth of XAU/USD quotes will be a rebound from the support area. As well as the formation of an inverted model of «Head and Shoulders». Earlier, a weak signal was received for SELL the GOLD. The signal was formed due to the intersection of signal lines at the level of 1225.
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 1210 area. XAU/USD stands with the breakdown of the resistance area and closing above the level of 1230.
GOLD forecast & analysis XAU/USD December 3, 2018 suggests an attempt to test the support level near the 1220 area. Where can we expect continued growth of quotations with a potential target near the 1245 level.