🔍 BUY
A positive signal for the rise of XAU/USD could be a test of the support line on the RSI indicator. Another indicator supporting this is a bounce from the lower edge of the bullish channel. However, if prices fall and break through the 2565 level on 16 October 2024, this would signal a reversal, indicating further declines toward the 2510 level.
If prices break through the resistance area and close above 2670, this would likely lead to accelerated growth for XAU/USD.
A short-term bearish correction might push prices down to test support near 2635, but if the rise continues, the next target could be 2775. The bullish outlook would be invalidated if prices drop below 2565, signaling further declines with a potential target below 2510.