A test of the support line on the relative strength index (RSI) will signal a potential rise in XAU/USD quotes, complemented by a breakout from the lower border of the bullish channel. If prices fall and break below the 2275 level on May 31, 2024, this will invalidate the expected price increase, indicating a breach of the support area and suggesting a continued decline towards 2245.
An acceleration in XAU/USD growth is likely if the resistance area is broken and prices close above 2365, confirming a breakout of the upper limit of the Double Bottom reversal pattern. The scenario anticipates a price correction and a test of the support area near 2300, followed by sustained growth with a target above 2435. Conversely, if Gold prices drop and breach the 2275 level, it will invalidate the upward trend, indicating a continued decline with a potential target below 2245.