To anticipate an increase in XAU/USD quotes, look for a test of the support line on the relative strength index (RSI). Another key indicator would be a breakout from the lower boundary of the bullish channel. However, if Gold prices drop and break below the 2305 level on May 28, 2024, it would invalidate the growth scenario, signaling a breakdown of the support area and a continued decline in asset quotes to below 2265. Conversely, expect accelerated growth in XAU/USD quotes if the resistance area is breached and closing prices rise above 2365.
We might see an attempt to correct prices, testing the support area near 2295. Following this, further growth in non-ferrous metal quotations is expected, targeting levels above 2435. If the plan to raise Gold prices is canceled, a drop below 2305 would indicate a continued decline in Gold prices, potentially targeting below 2265.