A key indicator of a potential decline in XAU/USD is a test of the downward trendline on the RSI. Additionally, a rebound from the upper boundary of the "Double Top" pattern reinforces this bearish outlook.
If Gold prices break above $2995, this scenario becomes invalid, signaling further growth toward $3045. However, a decisive break below $2865 would confirm a bearish breakout, accelerating the decline.
Expect an initial attempt at a bullish correction, testing resistance near $2930, followed by continued downward movement targeting $2775. A strong rally above $2995 would invalidate the downtrend, suggesting further gains above $3045.