A potential signal for a decline in XAU/USD is a test of the resistance line on the RSI indicator, combined with a rebound from the upper boundary of the bearish channel. If the price of Gold rises sharply and breaks the 2725 level on 14 January 2025, this will invalidate the bearish scenario, signaling continued growth towards 2765 or higher.
Conversely, a breakdown of the support level near 2585 and a close below it would confirm the lower boundary breach of the “Triangle” pattern, initiating a decline with targets below 2535. Before this move, a temporary bullish correction may test resistance around the 2685 level, after which the decline in Gold quotes is expected to resume.
A sharp increase in the asset price that breaks through the 2725 mark will cancel the decline outlook and signal further upward momentum with targets above 2765.