For a potential increase in XAU/USD quotes, look for a test of the support line on the relative strength index (RSI) as an additional signal. Another key indicator would be a breakout from the lower boundary of the bullish channel. If Gold prices fall and break below the 2280 level on May 29, 2024, it would invalidate the growth scenario, signaling a breakdown of the support area and a continued decline in asset quotes to below 2245. Conversely, expect an acceleration in XAU/USD growth if the resistance area is breached and closing prices rise above 2375.
The market might attempt a price correction, testing the support area around 2290. After this, further growth in non-ferrous metal quotations is anticipated, targeting levels above 2435. If the plan to raise Gold prices is canceled, a fall below 2280 would indicate a continued decline in Gold prices, potentially targeting below 2245.