GOLD is trading at 1221 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 November 30, 2018, the test of the Ichimoku Kinko Hyo signal line is expected near the level of 1218. 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 30, 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 November 30, 2018 suggests an attempt to test the support level near the area of 1218. Where should we expect further growth of quotations with a potential target near the level of 1240. Cancellation of the growth option will break the area of 1210. This will indicate a continued decline in quotes XAU/USD.