An additional signal for a rise in #XAUUSD 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. If Gold prices fall and break below the 2355 level on 16 August 2024, this will indicate a breakout of the support area and a continuation of the decline to below 2325.
Expect accelerated growth in #XAUUSD if prices break through the resistance area and close above 2505, signaling a breakout of the upper border of the “Triangle” pattern with targets at the top.
This suggests a potential bearish correction and a test of support near 2430, followed by continued growth with a target above 2565. The growth scenario will be canceled if prices fall below 2355, indicating a further decline with a target below 2325.