GOLD XAU/USD is trading at the level of 1250.20. GOLD is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating that there is an bullish trend in GOLD. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1249.0, from which one should expect an attempt of growth and development of the bullish trend for Gold near the level of 1272.00.
Forecast GOLD prices XAU/USD on May 25, 2017
Earlier, we received a weak signal for purchases of gold, due to the intersection of the signal lines at the level of 1225.00. The cancellation of the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1239.00, which will indicate a change in the upward trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1267.00.