GOLD is trading at the level of 1214 and continues to move as part of the decline. 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 November 29, 2018, a test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1212. Where can we expect a rebound and continued growth of GOLD with a target near the level of 1240.
GOLD forecast & analysis XAU/USD November 29, 2018
An additional signal in favor of the growth of XAU/USD quotes will be a rebound from the support area. 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 area 1208. Such an option will indicate a change in the side trend in favor of a downward trend and a continued decline in the price of GOLD with a potential target near the 1195 area. XAU/USD stands with the breakdown of the resistance area and closing above the level of 1225.
GOLD forecast & analysis XAU/USD November 29, 2018 suggests an attempt to test the support level near the 1212 area. Where can we expect continued growth of quotations with a potential target near the 1240 level. Breakdown of the growth option will be a breakdown of the 1208. This will indicate a continued decline in XAU/USD quotes.