On 09-07-2024, a potential increase in #XAUUSD quotes is supported by a test of the support line on the relative strength index (RSI), along with a recent rebound from the resistance line. Additionally, a breakout from the upper border of the downward channel would reinforce this upward movement. If prices fall and break below 2285, this would invalidate the bullish scenario, indicating a breakdown of the support area and a continued decline in asset quotes towards 2225.
Anticipate accelerated growth in #XAUUSD quotes with a breakout of the resistance area and closing prices above 2375. This analysis also suggests an attempt to develop a price correction and test the support area near 2325, followed by continued growth in quotes of the non-ferrous metal targeting above 2475. Conversely, if the asset's value falls and breaks below 2285, it would signal a continued decline in Gold prices with a potential target below 2225.