GOLD completes the trading week near the level of 1221. GOLD continues to trade above the upper limit of the Ichimoku Kinko Hyo Cloud.

This indicates an upward trend in GOLD. A test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1210. Where should we expect an attempt to rebound and continue growth with a target near the level of 1265.

GOLD weekly forecast XAU/USD November 19 — 23, 2018

An additional signal in favor of rising gold prices in the current trading week November 19 — 23, 2018 will be a rebound from the support level. And also test the lower boundary of the ascending channel. Earlier, a weak signal was received for SELL the GOLD, due to the intersection of signal lines at the 1215 level.

GOLD weekly forecast XAU/USD November 19 — 23, 2018

Cancellation of the growth of quotations of GOLD will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with a close below the area of ​​1190. 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 XAU/USD quotes with the breakdown of the resistance area and closing above the level of 1240.

GOLD weekly forecast XAU/USD November 19 — 23, 2018 suggests an attempt to develop a correction to the level of 1210. Where should we expect a rebound and continued growth of quotations with a potential target near the level of 1265. The support level test will support growth. The cancellation of the option of increasing the price of gold will be the breakdown of the area of ​​1190. In this case, we should expect a continuation of the decline.