Gold quotes are traded at the level of 1321.58. Gold moves below the level of the moving average with a period of 55, indicating a bearish trend for gold. At the moment, Gold quotes are moving near the lower border of the Bollinger Bands indicator bars. A test of the level of 1325.80 is expected, from which one should expect an attempt to continue falling and further development of the downward trend with the target near the level of 1309.20.
GOLD forecast and XAU/USD analysis on April 26, 2018
The conservative sales area is located near the middle border of the Bollinger Bands indicator bars at 1329.65. The abolition of the option of continuing the fall of the Gold will be a breakdown of the mid-range area of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotations above the area of 1345.30, indicating a change in the bullish trend for Gold. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.
