GOLD completes the trading week near the level of 1249. Gold continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend in gold. The test of the Ichimoku Kinko Hyo signal line region is expected near the level of 1235. Where should we expect an attempt of a rebound and continuation of growth with a target near the level of 1295.
GOLD weekly forecast XAU/USD December 10 — 14, 2018
An additional signal in favor of rising GOLD prices in the current trading week of December 10 — 14, 2018 will be a rebound from the support level. And also test 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 rate of gold quotes will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the 1205 area. This will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall in the price of GOLD. Expect to accelerate the growth of XAU/USD quotes with the breakdown of the upper boundary of the bullish channel and closing above the level of 1275.
GOLD weekly forecast XAU/USD December 10 — 14, 2018 suggests an attempt to develop a correction to the level of 1235. Where should we expect a rebound and continued growth of quotations with a potential target near the level of 1295. The support level test will be in favor of growth. The cancellation of the option of increasing the price of GOLD will be the breakdown of the area of 1205. In this case, we should expect a continuation of the decline.