GOLD completes the trading week near the level of 1307. GOLD continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend in GOLD. A test of the upper boundary of the Kinko Hyo Cloud near the level of 1315 is expected. Where can we expect an attempt to rebound and continue to grow with a target near the level of 1385.
GOLD Weekly Forecast XAU/USD March 4 — 8, 2019
An additional signal in favor of rising gold prices in the current trading week of March 4 — 8, 2018 will be a rebound from the support level. The second signal will be the test of the lower boundary of the ascending channel. Earlier, a strong signal was received for SELL the GOLD. The signal was formed due to the intersection of signal lines at the level of 1215.
Cancellation of the growth of quotations of GOLD will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below 1265. This will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall in prices for GOLD. Expect to accelerate the growth of quotes XAU/USD stands with the breakdown of the resistance area and closing above the level of 1335.
GOLD Weekly Forecast XAU/USD March 4 — 8, 2019 suggests an attempt to develop a correction to the level of 1315. Where should we expect a rebound and continued growth of quotations with a potential target near the level of 1385. The support level test will be in favor of growth. The cancellation of the option of the increase in the price of GOLD will be a breakdown of the area of 1265. In this case, we should expect a continuation of the decline with a target below the level of 1225.
