Gold quotes are traded at the level of at 1324.60. 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 middle border of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 1330.50, where we can expect an attempt to continue the fall and further development of the downward trend in gold with a target near the level of 1295.50.
GOLD forecast and XAU/USD analysis on September 15, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1335.50. The abolition of the variant of the continuation of the fall of Gold will be the breakdown of the upper boundary of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 1350.50, 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.