On 11-07-2024, a potential increase in #XAUUSD quotes could be signaled by a test of the support line on the relative strength index (RSI) and a breakout from the upper border of the Triangle pattern. However, if prices drop and break below 2285, it will invalidate the bullish outlook, suggesting a breakdown of the support area and a further decline to below 2245.
Anticipate a potential acceleration in #XAUUSD growth if the resistance area is breached and prices close above 2405. This scenario includes the possibility of a price correction and a test of the support area near 2345, followed by continued growth in non-ferrous metal quotes, targeting above 2495. On the other hand, a fall and breakdown below 2285 would confirm a continued decline in Gold prices, with a potential target below 2245.