GOLD is trading at 1287 and continues to move as part of the correction. Gold moves below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend in GOLD. As part of the GOLD Price Forecast and Analysis March 8, 2019. A test of the area of Ichimoku Kinko Hyo signal lines near the level of 1295 is expected. Where should we expect a rebound and the continuation of the fall of Gold with a target near the level of 1255.
GOLD Price Forecast and Analysis March 8, 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 1315 area. Such an option will indicate a bearish trend in favor of the upward trend and continued growth in the price of Gold with a potential target near the 1345. Expect the acceleration of the XAU/USD quotes falling stands with the breakdown of the support area and closure below 1280.
GOLD Price Forecast and Analysis March 8, 2019 implies an attempt to test the resistance level near the 1295 area. Where should we expect further fall in quotations with a potential target near the 1255 level. Breaking down the reduction option will break the 1315 area. This will indicate a continuation of the XAU/USD with a target at the level of 1345.
