An additional indication of a potential rise in XAU/USD quotes is the RSI indicator's test of the support line. Another key signal is a bounce off the lower edge of the bullish channel. If Gold prices fail to rise on 20 November 2024 and drop below the 2575 level, it will signal a breakdown of the support zone, with further declines likely targeting the 2445 level.
Growth momentum could strengthen if the resistance zone is breached and the price closes above 2650. This would confirm bullish sentiment and suggest further upward movement.
In the short term, a bearish correction could test support around 2615 before the continuation of an upward trajectory, targeting levels above 2675. Conversely, if the market experiences a price drop breaking through 2575, it would indicate ongoing bearish pressure, setting the stage for a move below 2445.