Gold quotes are traded at the level of 1227.46. Gold moves above the level of moving media with a period of 55. This indicates the presence of bullish tendencies for Gold. At the moment, Gold quotes are moving near the upper boundary of the Bollinger Bands indicator bands.
GOLD forecast and XAU/USD analysis on November 23, 2018
As part of the Gold forecast, the test is expected to be 1223.30. Where to expect an attempt to continue the growth of Gold and the further development of an upward trend. The purpose of such a movement is the region near the level of 1238.00. The conservative buying area is located near the lower boundary of the Bollinger Bands indicator at 1218.60.
Canceling the option of continuing the growth of Gold will be a breakdown of the lower boundary of the bollinger bands. And also the moving average with period 55 and the closing of quotations Gold below the region is 1215.00. This will indicate a change in the current trend in favor of the bearish on Gold. In the event of a breakdown of the upper boundary of the Bollinger Bands, it is expected to accelerate growth.
GOLD forecast and XAU/USD analysis on November 23, 2018 implies a test level of assumes a test level of 1223.30. Further, it is expected to continue to grow to an area above the level of 1238.00. The conservative buying area is located is near the area of 1218.60. With the cancellation of the Gold growth option a breakdown of level 1215.00 will take place. In this case, it is expected to continue the fall.
