Another indication supporting the rise in XAUUSD rates would be a trial of the support line on the relative strength index (RSI). A secondary indication would occur with a bounce from the lower boundary of the bullish channel. The annulment of the possibility of Gold price elevation on March 13, 2024, would entail a price decline and a breach of the 2105 level. Such an event would signify a breakdown of the support zone, leading to a sustained decline in asset rates towards the region below the 2055 level. Anticipate a surge in the upward movement of XAUUSD rates upon surpassing the resistance zone and achieving closing prices beyond the 2215 mark.
Envisioning an endeavor to initiate a price correction and assess the support zone around the 2150 level. Subsequently, there would be a continuation of the upward trend in the precious metal quotes, aiming for a level above 2265. If the option to raise Gold prices is revoked, there would be a decline in asset value across markets, accompanied by a breach of the 2095 level. Such a scenario would imply a persistent downtrend in Gold prices, potentially reaching a target below the 2045 level.