An additional signal in favor of the rise in XAU/USD quotes will be a test of the support line on the relative strength indicator. The second signal will be a breakout from the lower border of the “Triangle” model. The cancellation of the option of growth in Gold prices on August 14, 2024 will be a fall in prices and a breakout of the 2360 level. This will indicate a breakout of the support area and a continuation of the fall in asset quotes to the area below the 2315 level. It is worth expecting an acceleration in the growth of XAU/USD quotes with a breakout of the resistance area and the price closing above the 2485 level, which will indicate a breakout of the upper border of the “Triangle” pattern and the beginning of the pattern with targets at the top.
Suggests an attempt to develop a bearish price correction and test the support area near the level of 2405. Further, the continuation of the growth of non-ferrous metal quotes with a target above the level of 2565. The cancellation of the option of raising Gold prices will be a fall in the value of the asset in the markets and a breakout of the level of 2360. This will indicate a continuation of the decline in the price of Gold with a potential target below the level of 2315.