A potential decline in XAU/USD is indicated by the RSI testing the resistance line. Another sign supporting this downward movement is a rebound from the upper boundary of the bearish channel.
If the Gold price surpasses 2725 on 15 Jan 2025, it may signal a breakout of the resistance zone, pointing to further growth towards 2775 or higher. Conversely, a drop below 2605 could confirm a breakout of the lower boundary of the "Triangle" pattern, triggering a decline to new lows.
There’s a possibility of a short-term bullish correction towards the resistance at 2695, followed by continued downward movement aiming below 2575. Should the Gold price break above 2725, the bearish scenario would be invalidated, signaling sustained growth with targets exceeding 2775.
Key Levels:
- Resistance: 2695, 2725, 2775
- Support: 2605, 2575
Watch for signals to confirm momentum in either direction.