GOLD is trading at 1287 and continues to move as part of the fall. GOLD moves below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend in gold. As part of GOLD Price Forecast and Analysis March 7, 2019. A test of the area of Ichimoku Kinko Hyo signal lines near the 1300 level is expected. Where should we expect a rebound and the continuation of the fall of GOLD with a target near the 1255 level.
GOLD Price Forecast and Analysis March 7, 2019
An additional signal in favor of a drop in XAU/USD quotes will be a rebound from the resistance area. And also test the upper limit of the downward channel. 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 1331.
Cancellation of the fall in Gold prices will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1320 area. XAU/USD stands with the breakdown of the support area and closure below 1275.
GOLD Price Forecast and Analysis March 7, 2019 implies an attempt to test the resistance level near the 1300 area. Where can we expect the continuation of the fall in quotations with a potential target near the level of 1255. The cancellation of the reduction option will be a breakdown of the 1320 area. This will indicate a continued rise in XAU/USD quotes with a target at the level of 1355.