📈 An additional indicator supporting XAU/USD growth is a test of the support line on the RSI (Relative Strength Index). Another key signal will be a rebound from the lower boundary of the bullish channel. Should prices drop and break below 2655 on 24 October 2024, the growth scenario for Gold will be invalidated. This would confirm a breach of the support zone, signaling further decline, potentially to levels under 2615.
On the other hand, a breakout of the resistance zone and a close above 2775 would indicate a breakout from the bullish channel’s upper boundary. This would suggest further growth in XAU/USD, with a potential rise matching the channel's width.
In the short term, there is a possibility of a bearish correction, aiming to test support near 2695. However, a continuation of XAU/USD’s rise remains likely, with targets set above 2825. A fall below 2655 would invalidate the bullish outlook and point to a continued drop, with the price potentially heading below 2615.
In summary, key levels to watch include 2655 for downside risks and 2775 for confirmation of upward momentum.